Goods produced in the U.S. are made more competitively priced when a. the dollar appreciates. b. the dollar depreciates. c. the exchange rate is fixed. d. the money supply is decreased. ANSWER B
Date: September 10th, 2020
Land sale booms were caused by large waves of immigration. Indicate whether the statement is true or false ANSWER FALSE
Date: September 10th, 2020
Both the classical and monetarist models assume all of the following except a. perfectly flexible prices. b. perfectly flexible wages. c. perfect information. d. vertical aggregate supply curve in the long-run. ANSWER C
Date: September 10th, 2020
According to Edward Denison’s estimates, the largest proportion of economic growth during the 1929-82 period was a. growth in the labor input. b. growth in output per unit of input. c. growth in the capital input. d. economies of scale. e. education. ANSWER B
Date: September 10th, 2020
In 1906, the Hepburn Act (a) Required the federal government to set “fair rates” for customers regardless of geographical location. (b) Required the federal government to set rates that promised a positive rate of return to railroads. (c) Granted the power to set maximum rates in the railroad industry to the federal government. (d) Granted […]
Date: September 10th, 2020
The Monetarist model differs from the classical model in that a. changes in aggregate demand, not aggregate supply, drive changes in output. b. changes in the money supply drive changes in inflation inflation. c. changes in aggregate supply, not aggregate demand, drive changes in ouput. d. money demand is not always stable. e. none of […]
Date: September 10th, 2020
The primary difference between the neoclassical growth model and endogenous growth models is that a. the neoclassical growth model assumes that technology is exogenous. b. endogenous growth models attempt to explain movements in technology within the model. c. changes in savings rates can affect growth in the long-run in endogenous growth models. d. both a […]
Date: September 10th, 2020
What did the growing inequality of income during the 1920s indicate? (a) That consumption expenditures would tend to weaken even though total income continued to rise (b) That spending for goods and business incentives to produce those goods became increasingly dependent on the wealthy (c) That the economy became more vulnerable to any shock, such […]
Date: September 10th, 2020
Industrial growth and location changed while manufacturing employment rose in the Sun Belt and fell in the Frost Belt. This growth and relocation were primarily due to the relocation of plants, functions and people moving from the Frost Belt to the Sun Belt. Indicate whether the statement is true or false ANSWER FALSE
Date: September 10th, 2020
Which of the following statements is (are) correct? Under a floating exchange rate system a. dramatic swings in the dollar have become less common the last 20 years. b. the dollar has exhibited considerable volatility, particularly over the last 20 years. c. the value of the dollar has been targeted within a specific range. d. […]
Date: September 10th, 2020
