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
The government played a central role in directing the post-World War II economy, causing all of the following to occur except (a) The reduction of entitlements, such as Social Security and unemployment benefits. (b) Massive spending by the federal government, justified by the Cold War. (c) Enormously expanded government infrastructure spending on things like highways, […]
Date: September 10th, 2020
The population theory of Thomas Malthus (a) would have predicted the changes in per output in this country in the 19th century and up to 1910. (b) would lead you to expect a powerful surge in physical output as the immigration poured in. (c) would not have predicted the positive trend increase in per capita […]
Date: September 10th, 2020
If the government places a new tax on the firing 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
Which of the following statements is (are) correct? There is agreement between the Keynesians and monetarists that a. an increase in aggregate demand will increase both output and price in the short run. b. there is a trade-off between inflation and unemployment in the short run. c. in the long run, when the expected price […]
Date: September 10th, 2020
According to the Thomas (1954) analysis, American investment in industrial physical capital was (a) labor-using in upswings of immigration. (b) labor-saving in upswings of immigration. (c) “labor neutral” over the course of immigration. (d) relentlessly labor-saving no matter what. ANSWER (a)
Date: September 10th, 2020
The Great Depression tried and tested the Gold Standard and this standard met the challenge. Indicate whether the statement is true or false ANSWER FALSE
Date: September 10th, 2020
A rightward shift of the BP schedule is the result of a(n) a. increase in the foreign interest rate. b. decrease in the foreign interest rate. c. exogenous fall in export demand. d. increase in import demand. ANSWER B
Date: September 10th, 2020
The term “stagflation” refers to an economy with the simultaneous problems of (a) rising inflation rates and falling unemployment rates. (b) rising deflation and unemployment rates. (c) rising inflation and unemployment rates. (d) falling deflation and unemployment rates. ANSWER (c)
Date: September 10th, 2020
Which of the following was a key factor which pushed the nation close to civil war? (a) The Missouri Compromise of 1820 (b) Dred Scott v. Sanford Supreme Court Case (c) The Tariff of Abominations of 1828 (d) The Supreme Court practice of “judicial instrumentalism,” which the South believed undermined the Constitution ANSWER (b)
Date: September 10th, 2020
