Under perfect capital mobility, an increase in world interest rates will a. increase income and reduce domestic interest rates. b. increase income. c. increase income and lead to a balance of payment deficit. d. increase income and lead to a balance of payment surplus. ANSWER B
Date: September 10th, 2020
The National Recovery Administration (NRA) of 1933–35 attempted to restore market competition within U.S. domestic and international markets. Indicate whether the statement is true or false ANSWER FALSE
Date: September 10th, 2020
If the government places a new tax on the hiring of workers, then we would expect a. both the short run and long run Phillips curve to shift to the right. b. both the short run and long run Phillips curve to shift to the left. c. the long run Phillips curve remains unchanged while […]
Date: September 10th, 2020
By the 1830s, young women and children (a) were a very important portion of the industrial work force, about 40%. (b) were a minor portion of the industrial work force, about 10%. (c) were a moderate portion of the industrial work force, about 25%. (d) were not a part of the “industrial” work force because […]
Date: September 10th, 2020
The Great Depression was marked by non-farm housing slumps and falling real estate prices, prompting many states to impose a moratorium on residential mortgage foreclosures. Indicate whether the statement is true or false ANSWER TRUE
Date: September 10th, 2020
In the four decades from 1860 to 1900, the U.S. population nearly tripled. Real Gross Domestic Product (GDP) (a) fell by more than the amount by which the population increased. (b) fell by the same amount by which the population increased. (c) rose at about the same rate as the population increase. (d) increased by […]
Date: September 10th, 2020
Today, the Federal Reserve System can contract the money supply by (a) increasing the discount rate. (b) increasing reserve requirements. (c) selling U.S. Treasury and federal agency securities. (d) engaging in all of the above. ANSWER (d)
Date: September 10th, 2020
The short-run Phillips curve implied when all changes in aggregate demand are caused by changes in the money supply is a. upward sloping. b. downward sloping. c. horizontal. d. vertical. e. None of the above ANSWER B
Date: September 10th, 2020
In the neoclassical growth model, the rate of technological process is: a. 2 percent. b. 0 percent. c. exogenous and not explained. d. endogenous and explained by human capital accumulation. ANSWER C
Date: September 10th, 2020
For the first time in U.S. history, the federal government assumed responsibility for managing unemployment during the Great Depression. Indicate whether the statement is true or false ANSWER TRUE
Date: September 10th, 2020
