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
A current account deficit in a nation’s balance of payments accounts implies that a. imports are equal to exports. b. exports exceed imports. c. expenditures are more than income. d. income is more than expenditures. ANSWER C
Date: September 10th, 2020
A decline in the exchange rate means that a. the price of foreign exchange has declined. b. foreign currency has appreciated while the dollar has depreciated. c. foreign currency has depreciated while the dollar has appreciated. d. either a or c ANSWER D
Date: September 10th, 2020
Like the contemporary forms of transportation—airplanes, automobiles and trucks—railroads shifted from being perceived as a private luxury to a public necessity. Indicate whether the statement is true or false ANSWER TRUE
Date: September 10th, 2020
Unlike the revolutionary colonials, England had (a) an organized army and navy. (b) an abundance of resources. (c) the means to finance the war. (d) all of the above. ANSWER (d)
Date: September 10th, 2020
Industrialization in advanced economies suggests that rising productivity is responsible for (a) a drop in the number of laborers employed in the primary sector. (b) a smaller percentage of the total labor force working in the secondary sector. (c) a significant rise in the number of people working in the tertiary sector. (d) all of […]
Date: September 10th, 2020
