Implementation of the National Industrial Recovery Act (1933) positively impacted overall industrial ...

Implementation of the National Industrial Recovery Act (1933) positively impacted overall industrial production.
 
  Indicate whether the statement is true or false

Question 2

The techniques of regulation used in the U.S. are
 
  (a) meant to solve basic problems, but they create others.
  (b) meant to re-enforce the decisions of the marketplace.
  (c) meant to manage problems rather than solve them.
  (d) designed to make the economy more efficient than is possible with only the free market mechanism.

Question 3

The evidence shows that in 18601910
 
  (a) population and annual hours worked grew more rapidly than did the employed labor force.
  (b) population grew more rapidly than the labor force, but annual hours worked grew less rapidly.
  (c) population grew less rapidly than did the employed labor force, and the work day shortened.
  (d) population, productivity and the work day grew less rapidly than did the employed labor force.

Question 4

If children can be considered durable goods, then this would help explain
 
  (a) high birth rates among farm families.
  (b) small family size among farm families.
  (c) lower birth rates in towns than in the countryside.
  (d) lower birth rates in the countryside than in towns.

Question 5

The Glass-Steagall Act of 1933 separated commercial banks from most of their securities business.
 
  Indicate whether the statement is true or false

Question 6

The famous Kennedy Tax Cut of 1964 was
 
  (a) meant to stimulate private spending.
  (b) meant to reduce private investment.
  (c) meant to restrain consumption.
  (d) designed to increase the federal deficit.

Question 7

The balance of payments schedule can be expressed as
 
  a. X(Y, )  Z(Y, )  F(r  r) = 0
  b. X(Y + ) + Z(Y, )  F(r  r) = 0
  c. X(Y, )  Z(Y, ) + F(r  r) = 0
  d. X(Y, ) + Z(Y, ) + F(r  r) = 0

Question 8

Friedman's theory of the natural rate of unemployment and output
 
  a. indicates the power of the central bank to target levels of unemployment.
  b. demonstrates the limits to the trade-off between inflation and unemployment.
  c. is the theoretical foundation for the monetarist belief that, in the long run, the influence of the money stock is primarily on the price level and other nominal variables.
  d. both b and c.
  e. all of the above.

Question 9

Under perfect capital mobility, an increase in world interest rates will
 
  a. increase income and reduce domestic interest rates.
  b. increase income.
  c. increase income and lead to a balance of payment deficit.
  d. increase income and lead to a balance of payment surplus.

Question 10

The National Recovery Administration (NRA) of 193335 attempted to restore market competition within U.S. domestic and international markets.
 
  Indicate whether the statement is true or false