Labor productivity is measured by dividing Gross Domestic Product (GDP) by population. Indicate whether the statement is true or false ANSWER FALSE
Date: September 10th, 2020
In the neoclassical growth model, n increase in the saving rate results in a. faster permanent growth without a resultant effect on the equilibrium growth rate. b. faster temporary growth without an effect on the long-run equilibrium growth rate. c. faster temporary growth with a resultant effect on the equilibrium growth rate. d. None of […]
Date: September 10th, 2020
The economist John Kenneth Galbraith (1979) lists several major sources of weakness in the economy that laid the groundwork for the collapse of the 1930s. These sources include all of the following except (a) A weak banking structure (b) Ignorance of the economy’s problems by the nation’s leaders (c) An overgrown federal bureaucracy with extensive […]
Date: September 10th, 2020
The 1920s is sometimes described as the decade representing the emergence of “mass society.” This refers to developments in all of the following except (a) Production methods and communication systems (b) Consumption patterns and installment credit (c) Attitudes and culture (d) There is no “except”; all of the above are part of the emergence of […]
Date: September 10th, 2020
The sale of western land after 1790 was steady and strong. Indicate whether the statement is true or false ANSWER FALSE
Date: September 10th, 2020
Changing conditions in transportation during the years following the Civil War (1861–1865) provided an economic explanation for which of the following? (a) Railroad amalgamation (b) A well founded fear of monopolies by agriculturalists (c) Large government funding budgets for railroads (d) All of the above ANSWER (a)
Date: September 10th, 2020
During the decade of the 1920s, the U.S. economy (a) was generally healthy and gave no indication of the troubles that lay ahead regarding the Great Depression. (b) was relatively stagnant in terms of growth of total output with small declines in agriculture and housing, which suggested that difficult times might lie ahead in the […]
Date: September 10th, 2020
In the neoclassical model, an increase in the savings rate a. causes a more than proportionate increase in the capital to labor ratio. b. results in a less than proportionate increase in the capital to labor ratio. c. results in a proportionate increase in the growth rate of output. d. None of the above […]
Date: September 10th, 2020
The Granger Cases of the 1870s (a) sealed the fate of the U.S. railroad system, even though the cases were covered under a case involving a grain elevator. (b) came before the U.S. Supreme Court because state legislatures had passed laws in the 1870s to allow state agencies to control various aspects of railroad operation, […]
Date: September 10th, 2020
Which of the following is correct? Whenever the monetary authority pegs the interest rate, a. it must be ready to adjust the interest rate on demand. b. the monetary authority must exchange money for bonds on demand. c. it has control of the quantity of money. d. None of the above ANSWER B
Date: September 10th, 2020
