Which of the following statements is (are) correct? During the existence of the Euro (1999-), a. borrowing from abroad financed large excesses of merchandise imports over exports in the U.S. b. the United States has continued to be the world’s largest debtor nation. c. the dollar initially appreciated but then depreciated strongly since 2001 against […]
Assuming a flexible exchange rate, then an expansionary monetary policy in the foreign exchange market will shift a. the demand curve for foreign exchange to the right b. the demand curve for foreign exchange to the right and the supply curve of foreign exchange to the left. c. both the demand curve for foreign exchange […]
Stagflation at the end of the 1970s was marked by increasing inflation and unemployment. Indicate whether the statement is true or false ANSWER TRUE
Thomas Jefferson supported the Land Ordinances of 1785 and 1787. Indicate whether the statement is true or false ANSWER TRUE
The steel industry successfully lobbied for protection from foreign competition. Consequently, the steel-producing industries and those industries using steel benefited. Indicate whether the statement is true or false ANSWER False (The steel-using industries lost.)
The Interstate Commerce Commission (ICC) (a) was the first permanent independent federal regulatory agency. (b) was established because, given the interstate nature of railroads, the regulation the public demanded from the states simply passed to the federal government. (c) initially lacked the power to set railroad rates, but its founding marked the beginning of a […]
The statistical discrepancy is a. also known as the “errors and omissions term.” b. the amount that must be added to balance the total balance of payments to make it equal to zero. c. the adjusted amount to balance the capital account. d. the adjusted amount to balance the current account. e. Both a and […]
According to monetarists, a. businesses and households are the primary source of instability in the economy. b. the Federal Reserve causes instability in the economy primarily by allowing instability in the money demand that determines the level of economic activity. c. the government can stabilize the economy by interfering with the normal misadjustment mechanisms in […]
The U.S. Constitution established the orderly sale of the western lands. Indicate whether the statement is true or false ANSWER FALSE
Labor productivity is measured by dividing Gross Domestic Product (GDP) by population. Indicate whether the statement is true or false ANSWER FALSE
