The famous “Kennedy Tax Cut” of 1964 was (a) meant to stimulate private spending. (b) meant to reduce private investment. (c) meant to restrain consumption. (d) designed to increase the federal deficit. ANSWER (a)
Date: September 10th, 2020
The Glass-Steagall Act of 1933 separated commercial banks from most of their securities business. Indicate whether the statement is true or false ANSWER TRUE
Date: September 10th, 2020
The balance of payments schedule can be expressed as a. X(Yƒ, π) − Z(Y, π) − F(r − rƒ) = 0 b. X(Yƒ + π) + Z(Y, π) − F(r − rƒ) = 0 c. X(Yƒ, π) − Z(Y, π) + F(r − rƒ) = 0 d. X(Yƒ, π) + Z(Y, π) + F(r − […]
Date: September 10th, 2020
If children can be considered durable goods, then this would help explain (a) high birth rates among farm families. (b) small family size among farm families. (c) lower birth rates in towns than in the countryside. (d) lower birth rates in the countryside than in towns. ANSWER (c)
Date: September 10th, 2020
According to Monetarists, the natural rate of unemployment in each country will be determined by the structural characteristics of the a. the productive efficiency of that country. b. relationship between the actual price level and the expected price level. c. the monetary policy of that country. d. Both a and b e. All of the […]
Date: September 10th, 2020
Under perfect capital mobility a. there are no restrictions on buying financial assets, though there may be on buying factories and equipment. b. transactions costs have to be zero. c. differential risk in assets across countries are minimal. d. All of the above e. None of the above ANSWER C
Date: September 10th, 2020
All of the following trends and characteristics of American population growth occurred from Independence to the Civil War except (a) The size of the average family was increasing. (b) Populations living in urban places increased. (c) There was extensive settlement in rural areas. (d) Growth was very rapid. ANSWER (a)
Date: September 10th, 2020
The evidence shows that in 1860–1910 (a) population and annual hours worked grew more rapidly than did the employed labor force. (b) population grew more rapidly than the labor force, but annual hours worked grew less rapidly. (c) population grew less rapidly than did the employed labor force, and the work day shortened. (d) population, […]
Date: September 10th, 2020
What does the idea of a trade-off between inflation and unemployment mean? (a) That lower inflation could be established but only at the cost of higher unemployment (b) That lower unemployment could be achieved but only at the cost of more government spending (c) That lower inflation could be established but only at the cost […]
Date: September 10th, 2020
The techniques of regulation used in the U.S. are (a) meant to solve basic problems, but they create others. (b) meant to re-enforce the “decisions of the marketplace.” (c) meant to manage problems rather than solve them. (d) designed to make the economy more efficient than is possible with only the free market mechanism. […]
Date: September 10th, 2020
