During the 2000s, the Federal government’s deficit a. moved from large deficits to even larger deficits. b. changed little as a percent of GDP. c. moved from large surpluses to large deficits. d. rose largely as a result of large tax cuts in 2001 and 2004. e. both c and d. ANSWER E
Date: September 10th, 2020
With regard to colonial land settlement and the land beyond the Appalachians, (a) secure land titles had to come from established authority; land typically could not be claimed simply by “squatting” on it. (b) throughout most of the colonial period, authority over the land beyond the Appalachians was not easy to establish because both the […]
Date: September 10th, 2020
Under the Gold Standard (1880-1913) gold would flow into the U.S. when (a) U.S. exports exceeded its imports. (b) U.S. imports exceeded its exports. (c) domestic demand grew faster than domestic supply. (d) domestic supply grew faster than domestic demand. ANSWER (a)
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
The difference between the monetarist and Keynesian views on discretionary monetary policy is that the monetarists a. believe monetary policy is a stabilizing force and Keynesians believe it is primarily destabilizing. b. Keynesians think that monetary policy is always used effectively. c. believe monetary policy is a destabilizing force and Keynesians believe it is potentially […]
Date: September 10th, 2020
Under a fixed exchange rate system, the exchange rate a. is equal to one. b. fluctuates as the price of gold fluctuates. c. is fixed and interest rates must vary in response to balance of payment movements. d. can periodically change as economic conditions change. ANSWER C
Date: September 10th, 2020
Which of the following occurred during the 20th century? (a) The total U.S. population increased. (b) The percentage of foreign-born residents decreased, on average. (c) The median age fell. (d) All of the above occurred during the 20th century. ANSWER (a)
Date: September 10th, 2020
Research indicates that which one of the following factors likely gave rise to increased obesity in the U.S.? (a) Advancements in modern cooking technology (b) Increased consumption of restaurant and fatty foods (c) A shift from exercise in leisure to labor (d) All of the above ANSWER (a) (Contrary to popular beliefs, the microwave […]
Date: September 10th, 2020
One explanation for the fall in the value of the U.S. dollar since 2001is a. the mix of an tight fiscal/tight monetary policy over the period. b. the relative weakness of the U.S. economy over the period. c. a higher degree of accommodation of supply shocks in the United States relative to our trading partners. […]
Date: September 10th, 2020
After the American Revolution concluded, what did the English do? (a) They withdrew all investments in colonial America. (b) They continued investing in colonial America. (c) They discouraged individuals in other countries from investing in colonial America. (d) They did none of the above. ANSWER (b)
Date: September 10th, 2020
