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
Date: September 10th, 2020
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)
Date: September 10th, 2020
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
Date: September 10th, 2020
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
Date: September 10th, 2020
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
Date: September 10th, 2020
Between the end of the Civil War and the beginning of World War I, the U.S. economy was not able to effectively absorb the millions of immigrants it received. Indicate whether the statement is true or false ANSWER FALSE
Date: September 10th, 2020
The long-run Phillips curve is consistent with a. a negative relationship between unemployment and the rate of expected inflation. b. the expected real wage being equal to the actual real wage. c. the actual price level being equal to the expected price level. d. no relationship between inflation and unemployment. e. all of the above […]
Date: September 10th, 2020
The Great Depression is still the subject of controversy, including the question(s) of (a) what caused the initial downturn. (b) why the economy contracted for so long (1929 to 1932) and why it contracted so much (real GNP fell about 30%). (c) whether government policy helped or hindered the recovery attempt. (d) all of the […]
Date: September 10th, 2020
The most significant cost to a central bank of reducing unemployment is the costs a. incurred by printing and distributing new money. b. of lower output. c. of higher real wages. d. of inflation. ANSWER D
Date: September 10th, 2020
In the long run, holding all else constant, inflation requires a decrease in the money supply relative to the output of goods and services—not enough money chasing too many goods. Indicate whether the statement is true or false ANSWER FALSE
Date: September 10th, 2020
