The pure competitor usually charges higher prices and offers more output than the monopolist or oligopolist. Indicate whether the statement is true or false ANSWER FALSE
Date: September 10th, 2020
Keynesians believe that the interest elasticity of money demand a. is lower than that believed by monetarists. b. is higher than suggested by monetarists. c. is completely elastic. d. is completely inelastic. e. none of the above. ANSWER B
Date: September 10th, 2020
With regard to the Navigation Acts (1651 and later amendments), all of the following answers are true except (a) No commodities originating from the Empire were to be shipped in any but British (including colonial) ships. (b) No commodities imported into the Empire were to be carried in any but British ships. (c) Only British […]
Date: September 10th, 2020
Unlike the 1920–21 episode, 1929–30 farm prices stood up fairly well when other prices fell. Indicate whether the statement is true or false ANSWER FALSE
Date: September 10th, 2020
Supply-side economists argued that, given existing tax laws, the high inflation of the 1970s a. lowered the effective tax rate on corporate income. b. did not have any effect on the aggregate supply curve. c. raised the effective tax rate on corporate income. d. may have raised but probably lowered the effective tax rate on […]
Date: September 10th, 2020
A supply of foreign exchange occurs in the United States when a. a U.S. citizen wants sells stock on a European stock exchange. b. the United States exports steel to Japan. c. United States citizens travel abroad. d. All of the above ANSWER D
Date: September 10th, 2020
The Navigation Acts (1651 and later amendments) were part of the contemporary European commercial policy theory called (a) laissez-faire. (b) mercantilism. (c) commercialism. (d) classical liberalism. ANSWER (b)
Date: September 10th, 2020
What does the demand for labor depend on, directly or indirectly? (a) The wage rate (b) Productivity of labor (c) Demand for the goods and services produced by the labor (d) All of the above ANSWER (d)
Date: September 10th, 2020
Keynes and many of his contemporaries believed that money was a. major importance because the idea of the liquidity trap only came later. b. even more important than fiscal policy. c. little importance and monetary policy of little use as a stabilization tool. d. major importance but of little use as a stabilization tool. e. […]
Date: September 10th, 2020
As in the modern world, price-discriminating railroad industrialists of yesteryear charged the highest prices in markets with the steepest competition. Indicate whether the statement is true or false ANSWER FALSE
Date: September 10th, 2020
