If private investment had held up as well as consumption did, the economic contraction from 1929 to ...

If private investment had held up as well as consumption did, the economic contraction from 1929 to 1933 would have been less severe than it was.
 
  Indicate whether the statement is true or false

Question 2

Western expansion put whites on a collision course with the indigenous people of North America. The major policy of the U.S. government was to
 
  (a) basically ignore them as a separate group and allow them to be naturally assimilated into American life over time.
  (b) confine them to reservations where they could practice their tribal customs, they could be completely separate from white society with no interference in their affairs, and they could continue to develop and grow their customs and norms based on traditional ways.
  (c) enslave them as a source of labor for the plantation system.
  (d) civilize them by replacing tribal social structures and values with those more appropriate to white society, such as individual ownership of property, competitive striving for material gain, farming activities for Native American men and housekeeping for Native American women and the replacement of native languages with English among children.

Question 3

If total domestic savings exceeds domestic investment, then the country will:
 
  a. run a trade surplus.
  b. borrow from abroad.
  c. have to float its exchange rate.
  d. a and b.

Question 4

The U.S. demand for foreign cars has increased dramatically since the early 1900s because
 
  (a) Americans perceive foreign cars as lower quality cars than U.S.-produced cars.
  (b) foreign producers are manufacturing relatively fuel-efficient cars.
  (c) U.S. consumer demand for large, fuel inefficient cars has increased.
  (d) of all of the above reasons.

Question 5

Attitudes toward public land use have changed numerous times since the late 1800s.
 
  Indicate whether the statement is true or false

Question 6

According to Edward Denison, during the 1929 and 1982 period, capital formation
 
  a. was responsible for 25 percent of U.S. economic growth.
  b. amounted to 19 percent of U.S. economic growth.
  c. was considered the smallest source of U.S. economic growth.
  d. was the most important source of U.S. economic growth.

Question 7

The legislative immigration restrictions following World War I (191418) contributed to which of the following in the 1920s?
 
  (a) An acceleration in the growth in the U.S. population
  (b) A decline in the rate of household formation in the U.S.
  (c) Rapid rise in U.S. prices
  (d) High unemployment in the U.S.

Question 8

Monetarists argue that the interest elasticity of the demand for money is
 
  a. low, while Keynesians say it is high.
  b. important in terms of affecting economic activity.
  c. highly variable.
  d. an important factor in determining if velocity is stable or unstable.

Question 9

Speculation in the sale of public lands
 
  (a) did not occur.
  (b) placed land in the hands of capitalists at a price that was not competitive.
  (c) proved to be a necessary evil in transferring land from public to private ownership.
  (d) was caused by squatters.

Question 10

The market for U.S. cars was impacted significantly by consumers' options to buy which of the following?
 
  (a) Used cars
  (b) New cars produced by U.S. producers
  (c) New cars produced by foreign producers
  (d) All of the above

Question 11

Within a system of perfectly flexible exchange rates, an decrease in the United States demand for imports would result in a
 
  a. rise in the exchange rate.
  b. fall in the exchange rate.
  c. balance of payments deficit.
  d. balance of payments surplus.

Question 12

According to the monetarists, the rise in (M1) velocity in the mid-1990s can be attributed to
 
  a. changes in the type of bank deposits that are available to the public.
  b. new legal ceilings imposed on the deposit rates financial institutions are permitted to pay depositors.
  c. the phasing out of legal ceilings on the deposit rates financial institutions are allowed to pay depositors.
  d. Both a and b
  e. Both a and c

Question 13

The Constitution created an environment conducive to economic growth and development because the federal government could constitutionally do all of the following except
 
  (a) Levy uniform taxes
  (b) Coin money and regulate its value
  (c) Regulate commerce, thus prohibiting states from erecting barriers to the interstate movement of goods
  (d) Set fair prices on the private sale of goods in the marketplace

Question 14

Unlike the steel industry, the automobile industry
 
  (a) became more concentrated.
  (b) became less concentrated.
  (c) remained the same in terms of concentration.
  (d) constantly fluctuated in terms of concentration.