In the neoclassical growth model, break-even investment must cover a. the depreciation in capital. b. the rate of technology growth. c. depreciation and capital for new workers (population growth). d. capital for new workers (population growth) and technology growth. e. none of the above. ANSWER C
Date: September 10th, 2020
The last of the public land was sold between 1881 and 1907. Indicate whether the statement is true or false ANSWER FALSE
Date: September 10th, 2020
Western expansion put whites on a collision course with the indigenous people of North America. The major policy of the U.S. government was to (a) basically ignore them as a separate group and allow them to be naturally assimilated into American life over time. (b) confine them to reservations where they could practice their tribal […]
Date: September 10th, 2020
Burns (1934) argued that retardation and decline in some industries are (a) healthy for a growing and developing economy because resources are released for use in productive sectors. (b) healthy only for the competitors of the declining industries. (c) unhealthy for a growing economy because resources are idle in the declining industries. (d) unhealthy for […]
Date: September 10th, 2020
If a country imposes a tariff on all imports, then you would expect to see: a. an increase in this country’s current account surplus. d. an increase in this country’s foreign lending. c. in increase in this country’s exchange rate. d. a and b. e. all of the above. ANSWER E
Date: September 10th, 2020
Classical economists argue that all workers could have been employed during the Great Depression if they had been willing to accept falling wages. But President Hoover and his supporters recommended that hours be cut before wages which increased unemployment. Indicate whether the statement is true or false ANSWER TRUE
Date: September 10th, 2020
Extensive agricultural cultivation from 1870 to 1910, as described by Hughes and Cain (2011), meant that (a) there could be no increase in agricultural output per man hour. (b) the percentage increase in acreage under cultivation and the percentage increase in agricultural output was roughly the same. (c) the proportion of the labor force in […]
Date: September 10th, 2020
In a steady-state, sustained increases in the capital-to-labor ratio are only possible if a. the savings rate increases. b. population growth decreases. c. depreciation decreases. d. technology increases. e. all of the above. ANSWER D
Date: September 10th, 2020
Speculation in the sale of public lands (a) did not occur. (b) placed land in the hands of capitalists at a price that was not competitive. (c) proved to be a necessary evil in transferring land from public to private ownership. (d) was caused by squatters. ANSWER (c)
Date: September 10th, 2020
A monetarists would expect an increase in government spending to have a strong effect on output only if the spending increase was a. financed by an increase in the money supply. b. financed by a sale of bonds. c. financed by an increase in taxes. d. accompanied by a higher in the deficit. ANSWER […]
Date: September 10th, 2020
