Differences in what can explain the wage gap between U.S.-born and foreign-born workers? (a) Culture (b) Schooling (c) Urbanization (d) All of the above ANSWER (b)
Date: September 10th, 2020
The U.S. economy during the 2001-2004 period was been characterized by all of the following except a. expansionary fiscal policy. b. expansionary monetary policy. c. a jobless recovery. d. moderate economic growth. e. none of the above ANSWER E
Date: September 10th, 2020
All railroads were private enterprises with no government influence. Indicate whether the statement is true or false ANSWER FALSE
Date: September 10th, 2020
The decline in wholesale and consumer prices in 1929–30 was not as large as had been the decline in 1920–21. Indicate whether the statement is true or false ANSWER TRUE
Date: September 10th, 2020
The U.S. dollar exchange rate describes the a. the deficit/surplus situation in the balance of payments. b. the price of a foreign currency in terms of dollars. c. the deficit/surplus situation in the merchandise trade balance. d. future changes in foreign balance of payments. e. none of the above. ANSWER E
Date: September 10th, 2020
The stock market collapse of 1929 might have been averted had large corporations maintained their participation in the market for securities loans in 1925–1929. Indicate whether the statement is true or false ANSWER FALSE
Date: September 10th, 2020
Even in 1928, non-bank sources provided more funds for brokers’ loans in the stock market than did the nation’s banks. Indicate whether the statement is true or false ANSWER FALSE
Date: September 10th, 2020
Laborers of which sector work in the tertiary or service sector? (a) Teachers, doctors, lawyers, nanotechnologists, musicians and athletes (b) Farmers, fisher people and foresters (c) Manufacturers and processors of raw materials (d) All of the above ANSWER (a)
Date: September 10th, 2020
Critical assumptions behind the Laffer curve include a. labor supply is inelastic. b. investment is very responsive to higher savings and lower interest rates. c. the economy is above the marginal tax rate that maximizes tax revenue. d. both b and c. e. all of the above. ANSWER D
Date: September 10th, 2020
Railroads fueled the expansion of all markets in the post-bellum period of U.S. history. Indicate whether the statement is true or false ANSWER FALSE
Date: September 10th, 2020
