From an economics standpoint, the Articles of Confederation did not provide for (a) levying taxes to support a central government. (b) regulating interstate commerce. (c) enforcing laws, because no federal judiciary was authorized. (d) any of the provisions mentioned above. ANSWER (d)
Date: September 10th, 2020
The Keynesians believe that a. the Fed played a primary role in driving the Great Depression. b. the Fed played an important role in preventing the Great Depression from being worse than it could have been. c. the Fed played a negative but secondary role in the Great Depression. d. the Federal Reserve did all […]
Date: September 10th, 2020
An increase in U.S. official reserve assets is entered in the U.S. balance of payments accounts as a a. credit. b. debit. c. current account item. d. None of the above ANSWER B
Date: September 10th, 2020
Holding all else constant, when interest rates fall, (a) yields on common stocks rise above yields on bonds. (b) yields on common stocks fall below yields on bonds. (c) yields on common stocks and bonds rise at an equal rate. (d) yields on common stocks and bonds fall at an equal rate. ANSWER (a)
Date: September 10th, 2020
Which of the following entities was blamed in part for the speculative activity leading to the crash of 1929? (a) Large manufacturing enterprises (b) Brokers and their firms who extended loans to customers interested in buying stocks on the margin (c) The Federal Reserve System (d) New mom and pop businesses ANSWER (b)
Date: September 10th, 2020
_____ believe that the primary causes of the Depression were autonomous declines in aggregate demand initiated by shocks to the IS curve a. Monetarists. b. classical economists. c. early and late Keynesians. d. early Keynesians only. ANSWER C
Date: September 10th, 2020
The Land Ordinances of 1785 and 1787 accomplished which of the following? (a) Established the foundation for future American capitalism by permitting land to pass into private hands (b) Allowed the practice of primogeniture or inheritance by the oldest son (c) Permitted land to be treated primarily as a “collective good” (d) Provided for a […]
Date: September 10th, 2020
In the 1970s, the largest steelmakers were slow or failed to adopt quickly the latest technology: oxygen furnaces. Some researchers blame (a) the federal government for its enterprise-crippling policies, subsidies and import restrictions. (b) unions for their low productivity efforts and high wage demands. (c) management for not keeping abreast of global changes in the […]
Date: September 10th, 2020
According to Edward Denison, the United States has experienced a. diseconomies of scale. b. economies of scale. c. constant returns to scale. d. None of the above ANSWER B
Date: September 10th, 2020
The Constitution helped establish a secure and well-defined system of property rights and rights of persons because it did which of the following? (a) It established that people could be deprived of property without due process of law. (b) It loosely defined which contracts would be enforced. (c) It permitted bankruptcy without just cause and […]
Date: September 10th, 2020
