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
Monetarists argue that the interest elasticity of the demand for money is a. low, while Keynesians say it is high. b. important in terms of affecting economic activity. c. highly variable. d. an important factor in determining if velocity is stable or unstable. ANSWER C
Date: September 10th, 2020
According to historian Charles Beard’s analysis and interpretation, the Constitution was (a) divinely inspired. (b) strongly favored by the vast majority of the colonists. (c) influenced by the economic self-interest of the delegates to the Constitutional Convention. (d) of little importance to future economic growth. ANSWER (c)
Date: September 10th, 2020
According to Edward Denison, during the 1929 and 1982 period, capital formation a. was responsible for 25 percent of U.S. economic growth. b. amounted to 19 percent of U.S. economic growth. c. was considered the smallest source of U.S. economic growth. d. was the most important source of U.S. economic growth. ANSWER B
Date: September 10th, 2020
Unemployment in 1939, after a decade of recession and depression, still exceeded 10 percent. Indicate whether the statement is true or false ANSWER TRUE
Date: September 10th, 2020
Attitudes toward public land use have changed numerous times since the late 1800s. Indicate whether the statement is true or false ANSWER TRUE
Date: September 10th, 2020
The need for government subsidies of irrigation produced (a) the Desert Land Act (1877). (b) the Interstate Commerce Commission Act (1887). (c) the Newlands Act (1902). (d) all of the above. ANSWER (a)
Date: September 10th, 2020
The legislative immigration restrictions following World War I (1914–18) contributed to which of the following in the 1920s? (a) An acceleration in the growth in the U.S. population (b) A decline in the rate of household formation in the U.S. (c) Rapid rise in U.S. prices (d) High unemployment in the U.S. ANSWER (b) […]
Date: September 10th, 2020
If total domestic savings exceeds domestic investment, then the country will: a. run a trade surplus. b. borrow from abroad. c. have to float its exchange rate. d. a and b. ANSWER A
Date: September 10th, 2020
