The Smoot-Hawley Tariff Act of 1930 is thought to have contributed to the severity of the 1930s depression because of the rise in tariff rates and the consequential drop in private consumption, savings and investment. Indicate whether the statement is true or false ANSWER TRUE
Date: September 10th, 2020
In the long run, according to Monetarists a. the natural rates of output and employment depend on factor supplies. b. the natural rates of output and employment depend on technology. c. the influence of the money stock is mainly on the price level and other nominal variables. d. All of the above ANSWER D
Date: September 10th, 2020
The Land Ordinances of 1785 and 1787 established property rights in land that provided for all of the following except (a) Perpetual ownership, if desired (b) Direct inheritance (c) Complete freedom to sell as desired (d) Required inheritance through the principle of primogeniture ANSWER (d)
Date: September 10th, 2020
Within a fixed exchange rate system, the effect of an expansionary fiscal policy action on the balance of payments will be to a. worsen the balance on the capital account but improve the trade balance. b. worsen the trade balance but improve the balance on the capital account. c. worsen both the trade balance and […]
Date: September 10th, 2020
Farmers’ complaints during the post-Civil War period included all of the following except (a) High railroad rates (b) A worsening of the terms of trade between the prices of farm goods and the prices of manufactured articles (c) The fact that national banks were not allowed to accept farm mortgages as loan collateral (d) There […]
Date: September 10th, 2020
Which of the following contributed to the clear advancement of the automobile and steel industries? (a) Oligopoly behavior (b) Voluntary export restrictions (c) Quotas set for the number of foreign products entering the U.S. (d) Dynamic entrepreneurialism ANSWER (d)
Date: September 10th, 2020
The New Deal succeeded in ending the Great Depression. Indicate whether the statement is true or false ANSWER FALSE
Date: September 10th, 2020
With regard to the Constitution and its interpretation, (a) the powers reserved for the states included the police powers—local rules, laws and ordinances, including licensing, inspection and the regulation of local business activities. (b) the “common law of England” was in effect, claimed as the right of all Americans and still enforced by England. (c) […]
Date: September 10th, 2020
Which of the following policies are likely to increase national savings? a. running larger government budget deficits. b. decreasing taxes on stock dividends. c. reducing taxes on consumption. d. having to pay higher interest rates on the national debt. e. none of the above. ANSWER B
Date: September 10th, 2020
In the neoclassical growth model without technological progress, in the steady-state the level of capital increases at a. the growth of technology plus the growth of population. b. the growth of technology plus the growth of population plus depreciation. c. the growth of technology. d. the growth of population. ANSWER A
Date: September 10th, 2020
