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 […]
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)
The New Deal succeeded in ending the Great Depression. Indicate whether the statement is true or false ANSWER FALSE
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) […]
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
After the American Revolution, the public domain expanded and the amount of community property held by the federal government grew considerably. If it had stayed community property, there would have been problems, according to Hughes and Cain (2011). These problems include which of the following? (a) Individuals using it would not have incentive to conserve […]
A fall in the demand for U.S. exports would result in a rise in the exchange rate when a. there is no capital mobility and exchange rates are allowed to float. b. there is capital mobility. c. exchange rates are allowed to float. d. the country has a balance of payments surplus. e. both c […]
According to the Monetarists, average inflation is higher today than it was a hundred years ago because of a. the lack of fiscal responsibility. b. the increased use of stabilization policy. c. high interest rates, which increase the cost of borrowing. d. unstable investment demand. e. unstable money demand. ANSWER B
What was the official policy of the British colonies toward the practice of “squatting,” or freely settling and cultivating the land? (a) Squatting was encouraged as a way to promote settlement of the land. (b) Colonial officials discouraged squatting because the indigenous populations legally owned land. (c) There was no policy toward the practice of […]
According to Chandler and Cortada (2000), the driving force of the U.S. economy has been what since the beginning? (a) Agriculture (b) Manufacturing (c) Information (d) Steel and automobiles ANSWER (c)
