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
Which of the following best explains the closing gap between rural and urban mortality rates? (a) Relatively higher incomes in urban areas (b) Relatively lower prices in urban areas (c) Medical advancements, health education, and public health and sanitation involvement (d) All of the above. ANSWER (c)
Date: September 10th, 2020
In the monetarist model, an autonomous increase in investment demand would have a. only a weak effect on the level of output. b. a strong positive effect on the level of output. c. no effect on the interest rate. d. stronger effects on output if financed with increases in the money supply. e. both a […]
Date: September 10th, 2020
Income distribution moved toward greater inequality in the 1920s after World War I (1914–18) had witnessed a movement toward greater equality. Indicate whether the statement is true or false ANSWER TRUE
Date: September 10th, 2020
A critical component of supply-side economics is that a. there is no wage that is so low that someone will not be willing to work for it. b. as the wage gets higher, workers choose significantly less leisure. c. labor supply is inelastic. d. as the wage gets higher, workers are richer and choose more […]
Date: September 10th, 2020
The Navigation Acts (1651 and later amendments) (a) defined the British Empire within Europe and restricted shipping and trade between it and the external world. (b) had a major purpose of enlarging and protecting the King of England’s income derived from trade through shipping and trade. (c) advanced free trade across the British Empire. (d) […]
Date: September 10th, 2020
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
In September 1929, Roger Babson predicted the collapse of the stock market. Indicate whether the statement is true or false ANSWER TRUE
Date: September 10th, 2020
