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
If the central bank targets a rate of nominal GDP growth, then it would have to _____ money growth when nominal GDP fell below its target in order to _____ inflation and ____ real GDP. a. increase; increase; increase b. increase; decrease; decrease c. decrease; decrease; decrease d. decrease; decrease; increase ANSWER A
Date: September 10th, 2020
The income elasticity for cars is high. During the late 1960s, some U.S. citizens experienced a decrease in their real incomes. Consequently, they purchased (a) more expensive U.S. cars. (b) more foreign imports due to their relatively low costs. (c) used U.S. cars in order to avoid foreign imports. (d) U.S. cars of any type […]
Date: September 10th, 2020
Which of the following groups was Jefferson most trying to help in setting up the Land Ordinances? (a) His friends, the land speculators (b) The urban proletariat (c) The small farmers (d) Fellow slave owners ANSWER (c)
Date: September 10th, 2020
As more people entered the agricultural sector between 1865 and 1913, agricultural efficiency (i.e., output per man hour) fell. Indicate whether the statement is true or false ANSWER FALSE
Date: September 10th, 2020
Convergence refers to the idea that cross-country a. growth rates will become more similar over time. b. unemployment rates will become more similar over time. c. per-capita income levels will become more similar over time. d. total income levels will become more similar over time. e. none of the above. ANSWER C
Date: September 10th, 2020
