Railroad construction in the late 19th century:
a. added little to economic fluctuations.
b. strongly influenced capital formation.
c. caused the three major financial crisis of that era.
d. All of the above are correct.
e. Only b and c are correct.
b. strongly influenced capital formation.
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Starting from long-run equilibrium, a large tax increase will result in a(n) ________ gap in the short-run and ________ inflation and ________ output in the long-run.
A. recessionary; lower; potential B. expansionary; lower; potential C. expansionary; higher; potential D. recessionary; lower; lower
Today, the Dow Jones Industrial Average
A. consists of 30 stocks. B. is a set group of stocks that remains constant over time. C. contains stocks that are widely held by institutional investors and individuals. D. contains both stocks and bonds of large American companies. E. a and c
The Fed can offset the effects of an increase in float by engaging in
A) a repurchase agreement. B) a matched sale-purchase transaction. C) an interest rate swap. D) an open market purchase.
A form of economic organization that relies primarily on private ownership of productive assets, freedom of exchange, and market prices to allocate goods and resources is often called
a. national socialism. b. the welfare state. c. a corporate economy. d. capitalism.