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
When the U.S. economy expands, foreign investment in and immigration to the U.S. usually contracts. Indicate whether the statement is true or false ANSWER FALSE
Date: September 10th, 2020
The International View of the Great Depression blames the contraction in the U.S. economy on (a) the failure of the U.S. markets to permit a fall in aggregate prices under the gold standard or to devalue its exchange rate. (b) exports’ and imports’ large proportion of total GDP in the U.S. (c) Great Britain abandoning […]
Date: September 10th, 2020
Which of the following statements is (are) correct? a. Both the monetarists and classicists agree that output is completely supply determined, even in the short run b. The monetarists do not agree with the classical position that monetary policy cannot be used to influence output. c. According to both the monetarists and the classicists, output […]
Date: September 10th, 2020
Relative U.S. real wages and incomes played a role in influencing the decisions of foreign migrants. Indicate whether the statement is true or false ANSWER TRUE
Date: September 10th, 2020
Data on convergence suggests: a. poor countries are converging with the median country. b. rich countries are converging with other rich countries. c. only countries with the same populations are convergine. d. none of the above. ANSWER B
Date: September 10th, 2020
Imports depend a. negatively on income. b. positively on income. c. negatively on the exchange rate. d. positively on the price of foreign currency. e. Both b and c. ANSWER E
Date: September 10th, 2020
All of the following were important structural changes in American capitalism during the period 1960–95 except (a) New technology in the form of automated (machine-guided) production processes (b) A capital-labor accord which allowed workers to share in productivity gains through wage increases, particularly during the 1950s and 1960s (c) An increase in self-sufficiency as the […]
Date: September 10th, 2020
