Macroeconomics

Andrew Carnegie dominated the steel industry on the basis of the Besse

Andrew Carnegie dominated the steel industry on the basis of the Bessemer converter. This technology permitted unskilled men to produce large quantities of steel at relatively low costs. This technology was (a) invented by Carnegie. (b) stolen from the British inventor Bessemer. (c) acquired legally from the British inventor Bessemer. (d) imported from Germany.   […]

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Date: September 10th, 2020

How does the federal government influence the flow of goods and servic

How does the federal government influence the flow of goods and services into the country and, consequently, create extra profitability or rents in domestic production that would not have been there under free market conditions? (a) tariffs (b) minimum wage laws (c) control of the public domain (d) federal income taxes   ANSWER (a)

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Date: September 10th, 2020

In which case did the U.S. Supreme Court decide the Constitution was “

In which case did the U.S. Supreme Court decide the Constitution was “intended to endure for ages to come and, consequently, to be adapted to various crises of human affairs”? (a) Nebbia v New York (1934) (b) Munn v Illinois (1877) (c) McCulloch v Maryland (1819) (d) Dartmouth College v Woodward (1819)   ANSWER (c)

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Date: September 10th, 2020

The corporation, as a form of business organization, fueled the positi

The corporation, as a form of business organization, fueled the positive trend toward federal regulation of business activities for all of the following reasons except (a) Corporations were rapidly becoming more numerous than sole proprietorships and partnerships. (b) Corporations made possible or encouraged growth in the number of giant enterprises. (c) Corporations were adept at […]

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Date: September 10th, 2020