The founders of the U.S. Constitution clearly understood how to write a document capable of producing the amount of wealth presently accumulated in the U.S. Indicate whether the statement is true or false ANSWER FALSE
Date: September 10th, 2020
The objections to the Walsh-Healy Act of 1936, which mandated “prevailing wages” in government employment, (a) concerned the tendency of government wages to undercut those of the private sector. (b) came from the labor unions. (c) held that unemployment would be maintained artificially high. (d) held that payment of prevailing wages would reduce the national […]
Date: September 10th, 2020
Which of the following factors would increase capital mobility? a. fixed exchange rates. b. differences in tax laws between countries. c. different accounting standards between countries. d. both a and b. e. All of the above. ANSWER A
Date: September 10th, 2020
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
Dollarization by a foreign country is another form of: a. balancing a country’s current account. b. maintaining monetary policy independence. c. fixing an exchange rate. d. maintaining a balanced government budget. ANSWER C
Date: September 10th, 2020
The New Deal in U.S. history is that period during the Great Depression in which American “capitalism” is redefined and the role of the federal government in the economy fundamentally changes forever. Indicate whether the statement is true or false ANSWER TRUE
Date: September 10th, 2020
Secured property rights provide individuals with incentive to use the resources they own productively because they realize the gains from this use. Indicate whether the statement is true or false ANSWER TRUE
Date: September 10th, 2020
The reforms, acts and programs that emerged during the New Deal were dissolved quickly at the end of the Great Depression. On this front, the New Deal command economy was similar to the World War I command economy. Indicate whether the statement is true or false ANSWER FALSE
Date: September 10th, 2020
Under perfect capital mobility, fiscal policy has the largest impact on the income under: a. fixed exchange rates. b. floating exchange rates. c. dollarization. d. a currency union. ANSWER A
Date: September 10th, 2020
By the end of the 19th century, bituminous coal still was the largest single source of mineral energy used in this country, despite the enormous increase in oil production and refining. Indicate whether the statement is true or false ANSWER TRUE
Date: September 10th, 2020
