During the 1930s, labor legislation was (a) generally favorable to organized labor. (b) generally unfavorable to organized labor. (c) generally neutral with regard to organized labor. (d) virtually the same compared to previous periods. ANSWER (a)
Date: September 10th, 2020
Open-hearth technology quickly replaced the Bessemer converter in the steel industry. This is an example of Schumpeter’s creative destruction process. Indicate whether the statement is true or false ANSWER TRUE
Date: September 10th, 2020
Even today, individuals distrust the outcome of free markets, as is evidenced by the protests against the construction of Walmarts across the nation. Indicate whether the statement is true or false ANSWER TRUE
Date: September 10th, 2020
If the Federal Reserve sells $10 million in government securities in the open market, with a 10 percent required reserve ratio on deposits, the maximum increase in deposits would be a. -$50 million. b. -$100 million. c. $10 million. d. $100 million. e. none of the above ANSWER B
Date: September 10th, 2020
Historically, the U.S. government has been used to overcome crises, redistribute income and wealth and address negatively received market outcomes. Indicate whether the statement is true or false ANSWER TRUE
Date: September 10th, 2020
The New Deal allowed the federal government to reorganize and pursue economic planning. Indicate whether the statement is true or false ANSWER TRUE
Date: September 10th, 2020
The BP curve shifts to the left when: a. the exchange rate falls. b. interest rates rise. c. income rises. d. imports increase. ANSWER A
Date: September 10th, 2020
Entrepreneurship results in an equal distribution of wealth and income. Indicate whether the statement is true or false ANSWER FALSE
Date: September 10th, 2020
During the antebellum period, rapid economic growth was accompanied by significant changes in public economics and policy-making. Indicate whether the statement is true or false ANSWER TRUE
Date: September 10th, 2020
Capitalists like Henry Ford welcomed the Fair Labor Standards Act of 1938 . It relieved them of the responsibilities associated with contracting wages, hours and working conditions. Indicate whether the statement is true or false ANSWER False Using the economic way of thinking and holding all else constant, choose the best answer among those […]
Date: September 10th, 2020
