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
According to the theory of hysteresis, a prolonged recession will: a. decrease the natural rate of unemployment. b. increase cyclical unemployment. c. decrease the sacrifice ratio. d. increase the natural rate of unemployment. ANSWER D
Date: September 10th, 2020
From 1860 to 1910, U.S. mobility between social classes and occupations (a) distracted immigrants. (b) increased the potential migrant’s opportunity cost of staying in Europe. (c) attracted immigrants to the U.S. (d) decreased foreign investment in the U.S. ANSWER (b)
Date: September 10th, 2020
Under perfect capital mobility, monetary policy has the largest impact on the income under: a. floating exchange rates. b. fixed exchange rates. c. dollarization. d. a currency union. ANSWER A
Date: September 10th, 2020
When output is held constant, inflation does which of the following? (a) Increases real GDP (b) Increases real income (c) Increases government spending (d) Reduces the purchasing power of individuals living on fixed incomes. ANSWER (d)
Date: September 10th, 2020
Both Horwitz (1973) and Scheiber (1975) emphasize the restraining effects of judicial formalism on U.S. economic growth in the antebellum period. Indicate whether the statement is true or false ANSWER FALSE
Date: September 10th, 2020
Policies aimed at reducing the natural rate of unemployment are referred to as a. stabilization policies. b. structural policies. c. macroeconomic policies. d. labor policies. ANSWER B
Date: September 10th, 2020
The short-run Phillips curve shifts upward whenever: a. inflation rises. b. a negative supply shock occurs. c. unemployment rises. d. all of the above. ANSWER B
Date: September 10th, 2020
