Historically, price discrimination was aggressive behavior exhibited by whom? The (a) monopolist (b) mom and pop business person (c) manager of a large group of industrial workers (d) corporation ANSWER (a)
Date: September 10th, 2020
Electricity and internal combustion engines are general-purpose technologies. They permit the functioning of a wide range of goods, service and production systems. Indicate whether the statement is true or false ANSWER TRUE
Date: September 10th, 2020
Social Security provides incentive for individuals to (a) save more than they consume during their working years. (b) manage their assets privately in order to prepare to live on principal and interest during retirement. (c) rely on transfer payments made by the working class to them during retirement. (d) carefully manage their private retirement portfolios […]
Date: September 10th, 2020
Producers of goods and services suffered during the American War in which of the following sectors? (a) Fishing, whaling, and shipping (b) Exports and imports (c) Manufacturing and agriculture (d) All of the above ANSWER (d)
Date: September 10th, 2020
Installment-plan buying permits consumers to use the income generated from their private assets to pay for goods and services. Indicate whether the statement is true or false ANSWER FALSE
Date: September 10th, 2020
An advantage of a flexible exchange rate system relative to a fixed system is that in a flexible rate system a. currency speculation will be reduced. b. balance of payments surpluses and deficits can be dealt with using fiscal policy, not monetary policy. c. inflation will be minimized by the “discipline of the balance of […]
Date: September 10th, 2020
Economic theory predicts that (a) market forces impose stiff penalties on profits whenever enterprises discriminate against individuals on any basis other than productivity. (b) government intervention is required to combat discrimination. (c) market mechanisms and government interventions are weak in addressing issues of discrimination. However, government is relatively stronger. (d) discrimination is a necessary part […]
Date: September 10th, 2020
Railroads (a) were among the last of the pre-1890 big businesses to be regulated. (b) were only subject to regulation by governments when the federal government stepped in with the Interstate Commerce Act of 1887. (c) were objects of regulation more than a decade before the Interstate Commerce Commission Act. (d) were never subject to […]
Date: September 10th, 2020
According to Keynes, the money demand function a. did not change as the return on other assets changed. b. changes with output. c. shifts with changes in the public confidence in the economy. d. both b and c. e. all of the above. ANSWER C
Date: September 10th, 2020
A piece of evidence in favor the Keynesian model would be that a. investment is very sensitive to changes in tax rates. b. changes in aggregate income cause changes in investment, but not vice versa. c. the aggregate price level is negatively correlated with income. d. all of the above. ANSWER B
Date: September 10th, 2020
