According to Thomas (1954), increased immigration provided incentive to invest in capital that was ...

According to Thomas (1954), increased immigration provided incentive to invest in capital that was
 
  (a) labor-using, resulting in capital widening.
  (b) labor-using, resulting in capital deepening.
  (c) labor-saving, resulting in capital widening.
  (d) labor-saving, resulting in capital widening.

Question 2

The New Deal in U.S. history is that period during the Great Depression in which American capitalism is redefined and the role of the federal government in the economy fundamentally changes forever.
 
  Indicate whether the statement is true or false

Question 3

When output is held constant, inflation does which of the following?
 
  (a) Increases real GDP
  (b) Increases real income
  (c) Increases government spending
  (d) Reduces the purchasing power of individuals
  living on fixed incomes.

Question 4

Policies aimed at reducing the natural rate of unemployment are referred to as
 
  a. stabilization policies.
  b. structural policies.
  c. macroeconomic policies.
  d. labor policies.

Question 5

The Charles River Bridge v. Warren Bridge (1837) decision established that a state could incorporate competing franchises, effectively overturning the old idea that a corporate charter implied a grant of monopoly.
 
  Indicate whether the statement is true or false

Question 6

Barry Eichengreen (1992) blamed the severity of the worldwide depression from 1929 to 1933 on the countries who abandoned the rules of the gold standard during economic downturns.
 
  This abandonment relieved countries from the monetary discipline measures of the gold standard. Indicate whether the statement is true or false

Question 7

From 1860 to 1910, U.S. mobility between social classes and occupations
 
  (a) distracted immigrants.
  (b) increased the potential migrant's opportunity cost of staying in Europe.
  (c) attracted immigrants to the U.S.
  (d) decreased foreign investment in the U.S.

Question 8

In the Mundell-Fleming model with a floating exchange rate and perfect capital mobility, expansionary fiscal policy does all of the following EXCEPT:
 
  a. increase interest rates.
  b. increase income.
  c. increase the IS curve.
  d. increase inflation.

Question 9

The Dred Scott v. Sanford decision of the U.S. Supreme Court in 1857
 
  (a) made all persons born in the U.S. citizens.
  (b) provided U.S. citizenry to the children of U.S. born slaves.
  (c) permitted slaves to sue others in courts.
  (d) prevented slaves from being taken away from their owners without due process.

Question 10

In the Mundell-Fleming model with a floating exchange rate and perfect capital mobility, an increase in the money supply does all of the following EXCEPT:
 
  a. increase interest rates.
  b. increase income.
  c. increase the IS curve.
  d. increase inflation.