In a floating exchange rate system, when national savings falls then the equilibrium exchange rate a. falls and the trade balance falls. b. falls and the trade balance rises. c. rises and the trade balance falls. d. rises and the trade balance rises. ANSWER B
Date: September 10th, 2020
Steady-state growth refers to a. intermediate-run periods. b. long-run equilibrium growth. c. output determination in the short run. d. None of the above ANSWER B
Date: September 10th, 2020
Recent research in growth theory extends the traditional analysis by making the rates of a. technological change and/or population growth exogenous. b. technological change exogenous and population growth endogenous. c. population growth and/or technological change endogenous. d. population growth exogenous and technological change endogenous. ANSWER C
Date: September 10th, 2020
The rise in output of corn and wheat was achieved more by increasing acres farmed than by raising output per acre. Indicate whether the statement is true or false ANSWER FALSE
Date: September 10th, 2020
Thomas Jefferson strongly influenced the passing of the Land Ordinances of 1785 and 1787 . A close study of those ordinances suggests that Jefferson believed in the importance of securing the private rights of individuals to buy, sell and derive income from their land. Indicate whether the statement is true or false ANSWER TRUE
Date: September 10th, 2020
The monetarist explanations of the Great Depression focus on a. falls in the LM curve and aggregate demand. b. falls in aggregate supply. c. fall in the IS curve and aggregate demand.. d. falls in expectations and the expected price level. ANSWER A
Date: September 10th, 2020
From the late 1970s to the late 1980s, Hall (1994) finds that leverage buyouts most commonly take place among firms (a) in the volatile tech industry. (b) facing steep global competition. (c) that are unstable. (d) like those mentioned in all of the above. ANSWER (b)
Date: September 10th, 2020
The federal government’s fiscal policy (taxing and spending policy) during the 1920s was one in which (a) the federal budget was in surplus every year. (b) the federal budget exerted a mildly deflationary impact on the economy, tending to slow overall spending in the economy. (c) Parkinson’s third law, “expenditures rise to meet income,” seemed […]
Date: September 10th, 2020
If the surplus in the capital account are greater than the deficit in the current account, then a. the current account must be positive in the long-run. b. the current account must be negative in the long-run. c. exports must be less than imports. d. official reserve transactions must be negative. ANSWER D
Date: September 10th, 2020
Studies indicate that after the Civil War and up to the 1890s, farmers did not benefit from an improvement in their terms of trade between agriculture and manufacturing. However, they did benefit from a decline in transportation charges relative to farm prices. Indicate whether the statement is true or false ANSWER FALSE
Date: September 10th, 2020
