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. […]
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
From the late 1860s until 1907 the U.S. averaged a four percent or more increase in the real value of the goods and services produced. Indicate whether the statement is true or false ANSWER TRUE
Under perfect capital mobility and a floating exchange rate system, expansionary fiscal policy leads to a. an increase in income and the interest rate. b. no change in the interest rate and a fall in the trade balance. c. no change in the interest rate and a decrease in income. d. an increase in interest […]
In the short run, an increase in the money stock growth rate a. moves the economy up the short-run Phillips curve. b. moves the economy down the short-run Phillips curve. c. shifts the short-run Phillips curve to the right. d. results in a decline in the natural rate of unemployment and a rise in the […]
The percentage of foreign-born people living in the U.S. continued to rise after the Civil War. Indicate whether the statement is true or false ANSWER TRUE
Which view of the causes of the Great Depression emphasizes that there is little evidence that the economy was suffering from any real shortage of money; the problems, instead, stemmed from a fall of private consumption and investment spending? (a) The Monetarists’ (b) The Keynesians’ (c) The Austrians’ (d) The International View ANSWER (b)
The two main sources of U.S. population increase between Independence and the Civil War were natural increases in population and immigration. Indicate whether the statement is true or false ANSWER TRUE
A leftward shift of the BP schedule co the result of an a. exogenous rise in import demand. b. exogenous fall in export demand. c. increase in the foreign demand for capital. d. increase in the foreign interest rate. e. both a and b. ANSWER E
There is no possible economic relationship between the birth rate and the availability of arable land. Indicate whether the statement is true or false ANSWER FALSE
