According to economists, which of the following acts was partially responsible for the Great Depression of the 1930s?
a. The Robinson-Patman Act
b. The National Recovery Act
c. The Smoot-Hawley Tariff Act
d. The Sarbanes-Oxley Act
e. The Sherman Antitrust Act
c
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What is a downside of trade protection?
a. Instead of protecting U.S. interests and giving domestic manufacturing an advantage over items manufactured elsewhere, it can have the unintended effect of driving the manufacturing completely out of the country. b. It can give U.S. interests and domestic manufacturing too much of an advantage over items manufactured elsewhere, having the unintended effect of driving the manufacturing completely out of the country. c. It can give U.S. interests and domestic manufacturing too much of an advantage over items manufactured elsewhere, having the unintended effect of bringing more manufacturing into the country than can be handled. d. Instead of protecting U.S. interests and giving domestic manufacturing an advantage over items manufactured elsewhere, it can have the unintended effect of bringing more manufacturing into the country than can be handled.
In 2008, the Fed utilized expansionary monetary policy, which was made
A. more effective as banks held more excess reserves. B. less effective as banks held more excess reserves. C. more effective as banks held less excess reserves. D. less effective as banks held less excess reserves.
Refer to the information provided in Figure 2.4 below to answer the question(s) that follow.
Figure 2.4Refer to Figure 2.4. The economy moves from Point E to Point B. This could be explained by
A. a change in society's preferences for hybrid cars versus motorcycles. B. an increase in economic growth. C. an increase in unemployment. D. a reduction in unemployment.
An individual wheat farmer produces wheat in a perfectly competitive market. A decrease in the market demand for wheat will cause the farmer's marginal revenue to ________ and his profit-maximizing level of output to ________.
A. increase; increase B. increase; decrease C. decrease; increase D. decrease; decrease