The decline of output of other domestic auto producers besides Ford, General Motors and Chrysler occurred in the presence, even before 1970, of rising sales of imported cars in the U.S. market. Indicate whether the statement is true or false ANSWER TRUE
Date: September 10th, 2020
A decrease in the demand for unskilled and skilled labor was a secondary effect of the productive use of fractional horsepower and internal combustion engines. Indicate whether the statement is true or false ANSWER TRUE
Date: September 10th, 2020
According to supply-side advocates, the increase in government regulatory activity in the late 1960s slowed economic growth a. by increasing the cost of producing a given output. b. by requiring capital formation that contributes to increased productivity in terms of measured output. c. only temporarily until there was an adequate adjustment period. d. Both a […]
Date: September 10th, 2020
Fogel (1964) came up with two estimates of social savings ( and ). What do they represent? (a) The level of industrial productivity using railroads and the level not using railroads (b) The lowered benefit of transport for agricultural goods using railroads and the lowered benefit of transport for all goods and passengers using railroads […]
Date: September 10th, 2020
Even though the number of workers in manufacturing has increased in the post-war world (since 1947), the proportion of manufacturing workers in the total labor force has declined. Indicate whether the statement is true or false ANSWER TRUE
Date: September 10th, 2020
Alternative proposals to change the current system of exchange rates include a. a new explicit system of fixed exchange rates. b. adjustable target zones for exchange rates. c. a dirty float rate system. d. Both a and b e. Both b and c ANSWER D
Date: September 10th, 2020
The current international monetary system is best described as a a. fixed rate system. b. completely flexible rate system. c. gold standard. d. mercantilist system. e. managed floating rate system. ANSWER E
Date: September 10th, 2020
With regards to money in the colonies, (a) the colonies did not produce enough of their own precious metals to coin money. (b) the British did not allow the export of their own coins to the colonies but did not object to foreign coins flowing into the colonies. (c) the British did not allow paper […]
Date: September 10th, 2020
The emphasis upon export surpluses in mercantilist theory (a) is also called the “beggar-thy-neighbor policy” and a “favorable” balance of trade. (b) was thought to be a good thing by business people because it meant that more money was circulating and more money meant higher prices and brisk trade. (c) was thought to be a […]
Date: September 10th, 2020
In the debate between equity and efficiency, _____ tend to favor efficiency, while _____ tend to favor equity. a. Keynesians; classicals b. monetarists; supply-siders c. supply-siders; Keynesians d. classicals; supply-siders. ANSWER C
Date: September 10th, 2020
