Which of the following are expected consequences of common ownership of property and resources? (a) The threat of corrupt use (b) The danger of over use (c) Free riding (d) All of the above ANSWER (d)
Date: September 10th, 2020
In the case of Commonwealth v. Hunt (1842), the Massachusetts Court held that labor unions are not necessarily illegal. They may stop work and boycott products without committing unlawful acts. Indicate whether the statement is true or false ANSWER TRUE
Date: September 10th, 2020
Assuming perfect capital mobility and a fixed exchange rate, then an increase in government spending shifts a. the IS schedule only. b. both the IS and LM schedules to the left. c. both the IS and LM schedules to the right. d. the LM schedule to the left and the IS schedule to the right. […]
Date: September 10th, 2020
Keynesian economics endorsed the idea of (a) increased government spending as a counterforce against slumps or recessions. (b) reduced taxation as a counterforce against rising prices. (c) increased government spending as a counterforce against inflation. (d) decreased government spending as a counterforce against slumps or recessions. ANSWER (a)
Date: September 10th, 2020
The techniques of government regulation in the U.S. are intended to increase the degree of competitiveness in the domestic and international marketplaces. Indicate whether the statement is true or false ANSWER FALSE
Date: September 10th, 2020
In the eighteenth century, the rise of manufacturing in New England helped the region attract more settlers than the other regions of the English colonies. Indicate whether the statement is true or false ANSWER TRUE
Date: September 10th, 2020
The large influx of immigrant families between 1860 and 1910 caused the total population to grow at a faster rate than the work force. Indicate whether the statement is true or false ANSWER FALSE
Date: September 10th, 2020
The expansion of governmental direct controls over the economy which characterized the “New Frontier” and “Great Society” programs of the Kennedy-Johnson years was continued and expanded by the Nixon Administration. Indicate whether the statement is true or false ANSWER TRUE
Date: September 10th, 2020
The BP schedule shows the combinations of the interest rate and income a. that clear the goods market. b. that leads to equilibrium in the balance of payments. c. that equate supply and demand in the foreign exchange market at a given exchange rate. d. and is always positively sloped. e. both b and d. […]
Date: September 10th, 2020
With respect to Friedman’s natural rate theory, expansionary monetary policies can a. move output above the natural rate but leave unemployment at the natural rate in the short-run. b. only affect inflation and not unemployment in the long-run. c. leave output at its natural rate with a simultaneous decrease in the natural rate of employment. […]
Date: September 10th, 2020
