Which of the following was not a peak period for the US debt/income ratio?
a) the Civil War
b) World War I
c) World War II
d) The War on Poverty
e) The end of the Cold War
d) The War on Poverty
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Fogel's (1964) work on railroads after the Civil War shows that they did not dominate the markets for steel, coal or wood
Indicate whether the statement is true or false
In the pivotal Supreme Court decision Munn v Illinois (1877), the court held that
(a) natural monopolies were subject to government regulation. (b) business in interstate commerce was subject to regulation. (c) any business, whether or not a natural monopoly, or whether or not it was in interstate commerce, may under certain circumstances be subject to regulation. (d) only businesses chartered (licensed) by governments could be subjected to government regulation.
Economists believe that people respond to incentives in predictable ways. Therefore, if the government imposed a tax on each child born, you would expect that: a. families would have the same number of children, but wait longer to begin having them. b. more children would be born, but spaced further apart
c. more children would be adopted. d. fewer children would be born.
If a government of a country with a zero trade balance increases its budget deficit, then the real exchange rate
a. appreciates and there is a trade surplus. b. appreciates and there is a trade deficit. c. depreciates and there is a trade surplus. d. depreciates and there is a trade deficit.