According to the Keynesian view, the focus of stabilization policies a. is to keep the economy at its equilibrium level in the face of shocks to aggregate demand. b. should be to keep the economy at its equilibrium level in the face of shocks to aggregate supply. c. is on the short run. d. All […]
Date: September 10th, 2020
Net migration can help fuel population growth which, in turn, provides a positive incentive for businesses to expand production and employment. Indicate whether the statement is true or false ANSWER TRUE
Date: September 10th, 2020
If the short run aggregate supply curve is flat, the Phillips curve will be a. flat b. steep c. horizontal d. upward sloping ANSWER A
Date: September 10th, 2020
In 1933 the unemployment rate was about 25%. This percentage (a) is probably quite accurate because the data on unemployment collected by the federal government was quite good at the time. (b) is probably too high because some people with jobs claimed to be unemployed so that they could collect unemployment compensation payments. (c) is […]
Date: September 10th, 2020
The number of people living in urban areas fell after the Civil War and then increased as World War I approached. Indicate whether the statement is true or false ANSWER FALSE
Date: September 10th, 2020
In the neoclassical growth model, convergence is conditional upon two countries having a. the same savings rates. b. the same depreciation rates. c. the same technology growth rates. d. the same population growth rates. e. all of the above. ANSWER E
Date: September 10th, 2020
The Keynesian model a. assumes a stable, downward sloping Phillips curve in the short run. b. implies a horizontal Phillips curve in the long run. c. shows that the Phillips curve is can be downward or upward sloping in the short run. d. differs from Friedman’s analysis pertaining to the vertical long-run Phillips curve. […]
Date: September 10th, 2020
Immigrants were valued as a vital source of labor and, consequently, they were greeted with open arms after the 1830s. Indicate whether the statement is true or false ANSWER FALSE
Date: September 10th, 2020
Regarding business conditions during the 1930s, which of the following events did not occur? (a) The number of patents applied for declined. (b) The number of mergers between companies increased in an attempt to increase their consolidated strength. (c) Some interest rates, such as the prime rate, fell to less than 1%. (d) In the […]
Date: September 10th, 2020
According to Edward Denison, the major source of labor productivity is a. improvements in labor quality. b. economies of scale. c. the changing composition of the labor force. d. technological progress. e. education per worker. ANSWER D
Date: September 10th, 2020
