The American Revolution changed the basic structure of private property rights inherited during the colonial period. Indicate whether the statement is true or false ANSWER FALSE
Date: September 10th, 2020
The right to grant charters to incorporated firms is reserved to the federal government, according to the Constitution. Indicate whether the statement is true or false ANSWER FALSE
Date: September 10th, 2020
In an open economy, there should be a close positive relationship between a. budget deficits and interest rates. b. trade deficits and budget deficits. c. savings and investment. d. investment and consumption. e. none of the above. ANSWER E
Date: September 10th, 2020
Olson (1971) argues that the gains from private competition cannot be exceeded by the gains from collective action. Indicate whether the statement is true or false ANSWER FALSE
Date: September 10th, 2020
Keynesian and classical theories agree that: a. AS is upward sloping in the short-run. b. AS is vertical in the long-run. c. sustained AD shocks can also shift AS in the long-run. d. all of the above. ANSWER B
Date: September 10th, 2020
Incorporated firms first began appearing in the 1850s. Indicate whether the statement is true or false ANSWER FALSE
Date: September 10th, 2020
The National Industrial Recovery Act (1933) (a) did not permit businesses to set prices and production quotas. (b) established three advisory boards composed of government, Webb-Pomerene firms and members of the Federal Reserve System. (c) was thrown out by the Supreme Court in May 1935. (d) prohibited collective bargaining. ANSWER (c)
Date: September 10th, 2020
Schumpeter maintains that recessions provide businesspeople with incentives to advance technologically. Indicate whether the statement is true or false ANSWER TRUE
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
