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
From the mid 1980s to the present, the United States a. had only a small current account deficit. b. had a large capital account deficit, which in the balance of payments accounts was financed with a surplus in the current account, which in turn financed investment in excess of domestic saving. c. has had a […]
Date: September 10th, 2020
In response to an increase in the population and the labor force, we would expect a. both the short run and long run Phillips curve to shift to the right. b. the short run Phillips curve remains unchanged while the long run Phillips curve shifts to the right. c. the long run Phillips curve remains […]
Date: September 10th, 2020
Federal taxes increased in 1932, 1935 and 1937, and Social Security taxes were imposed in 1937 . Which group is credited for these tax increases during the Great Depression? (a) Classical economists (b) Keynesian economists (c) Monetarists (d) Government officials and special interest groups ANSWER (d)
Date: September 10th, 2020
Long information lags, bad harvests, high degrees of government intervention in private affairs and other “push-effects” often decreased net migration in the U.S. Indicate whether the statement is true or false ANSWER FALSE
Date: September 10th, 2020
The “middle-class” ideal that developed in the early 19th century included which of the following elements? (a) Women were socially and legally equal to men and were encouraged to choose between working and staying in the home (avoiding wage-labor in the factories). (b) Men were to be the income earners providing for the family’s material […]
Date: September 10th, 2020
If an economy is growing at 2 percent a year but its rate of technology growth is 1 percent a year, then this country must be: a. below its steady state level of capital per worker. b. expected to grow slower in the future. c. has a savings rate that is too low. d. none […]
Date: September 10th, 2020
The Cold War was of overriding importance during the period after World War II for all of the following reasons except (a) It was an automatic “pump primer” which helped keep spending levels high in the overall economy. (b) It helped fuel growth of key sectors of the economy, such as aircraft manufacturing and computers. […]
Date: September 10th, 2020
What were the two main sources of population increases during the antebellum period? (a) a significant increase in the number of indentured servants and slaves (b) immigration and a natural increase in population (c) government policies providing incentive to procreate and advanced pre-natal care (d) longer life expectancies and high infant mortality rates ANSWER […]
Date: September 10th, 2020
