According to the neoclassical growth model, economic growth occurs because of a. increasing returns to scale. b. exogenous increases in technology. c. international trade that can increase knowledge. d. government policy which encourages savings. e. all of the above. ANSWER E
Date: September 10th, 2020
The American Revolution and Constitution represented the transition to “modern liberalism,” or (a) a strong emphasis on the role of government in providing for the welfare of the people and the regulation of business activities. (b) an emphasis on free enterprise and competitive individualism and a limited role for government. (c) an emphasis on public […]
Date: September 10th, 2020
In answer to the question, “Could they see the Great Depression coming?”, Hughes and Cain (2011) respond: (a) No—Many people firmly believed that markets would self-correct and eventually recover with no government intervention (b) No—many people seemed to believe that the prosperity of the 1920s would continue indefinitely because they believed that the economy was […]
Date: September 10th, 2020
In a floating exchange rate system, an appreciation of the exchange rate could be caused by a. a cut in taxes. b. a decrease in government spending. c. an increase in the domestic money supply. d. a decrease in the foreign demand for U.S. goods. ANSWER A
Date: September 10th, 2020
During the post-bellum period, growth in demand outpaced growth in supply, causing food prices to fall. Indicate whether the statement is true or false ANSWER FALSE
Date: September 10th, 2020
Chandler (1994) credits IBM’s dominance in the world computer market to (a) advancements in technology. (b) investments in research and development. (c) solid management and sophisticated marketing. (d) all of the above. ANSWER (d)
Date: September 10th, 2020
In the monetarist model, an increase in both government spending and taxes would a. lead to a large increase in interest rates. b. increase income dollar for dollar with the increase in government spending. c. have a much smaller impact on income than in the Keynesian model. d. all of the above. ANSWER C
Date: September 10th, 2020
The disposal and settlement of the public lands, according to Hughes and Cain (2011), (a) went pretty much, in practice, as Jefferson had envisioned. (b) had both intended and unintended consequences. (c) occurred in an orderly and efficient manner for the most part. (d) was adequately funded and well-organized in execution. ANSWER (b)
Date: September 10th, 2020
According to growth accounting estimates, during the 1929-1982 period, increases in capital and labor account for about ______ of total growth. a. 0 percent. b. 25 percent. c. 50 percent. d. 90 percent. e. none of the above. ANSWER D
Date: September 10th, 2020
Advances in chemical and biological applications before World War I (1914–1918) increased agricultural output per acre. Indicate whether the statement is true or false ANSWER TRUE
Date: September 10th, 2020
