Field (2003) claims that the period from 1929 to 1941 was the strongest period of what in U.S. history? (a) Technological advancements (b) Monetary policy (c) Government action (d) Internationalization ANSWER (a)
Date: September 10th, 2020
Rural families were larger in size, on average, than urban families during the antebellum period. Some argue that the relatively high rate of return on a child born on a farm partly explains why. Children born on farms could be considered investments goods—”goods” used to produce something else. Indicate whether the statement is true or […]
Date: September 10th, 2020
According to monetarists, the natural rate theory a. denies the tradeoff between inflation and output. b. argues that there is a stable tradeoff between inflation and output. c. shows that activist policies work best. d. believes that the Phillips curve relationship breaks down when policymakers attempt to use it. ANSWER D
Date: September 10th, 2020
In an open economy, there should be a a. close positive relationship between investment and savings. b. a close positive relationship between trade deficits and investment. c. a negative relationship between trade deficits and savings. d. a positive relationship between a country’s savings rate and higher domestic interest rates. ANSWER C
Date: September 10th, 2020
Economic history shows that stock market averages are useful predictors of the future. Indicate whether the statement is true or false ANSWER FALSE
Date: September 10th, 2020
At the start of the Civil War, the population in the U.S. was about half that of the United Kingdom. Indicate whether the statement is true or false ANSWER FALSE
Date: September 10th, 2020
The BP schedule will be steeper the a. more responsive capital flows are to the interest rate. b. less responsive capital flows are to the interest rate. c. smaller the marginal propensity to import. d. less likely an expansionary fiscal policy will lead to a balance of payments deficit. ANSWER B
Date: September 10th, 2020
Information and opportunity costs affected patterns of emigration to the U.S. Indicate whether the statement is true or false ANSWER FALSE
Date: September 10th, 2020
According to Edward Denison, during the 1929-1982 period, real output grew at an annual rate of a. 1.4 percent. b. 0.6 percent. c. 2.9 percent. d. just below 1 percent. e. exactly one-half percent. ANSWER C
Date: September 10th, 2020
The Great Depression and the New Deal transformed the U.S. into which type of economy? (a) Laissez-faire (b) Socialist (c) Mixed (d) Communist ANSWER (c)
Date: September 10th, 2020
