In 1917, Congress imposed a serious restriction on immigration when it passed ________________ over President Wilson's veto
a. a quota system
b. a minimum wealth standard
c. a literacy test
d. a ban on Chinese immigration
c. a literacy test
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If an American firm produces goods that are sold to a German household, then
A) German GDP increases but not U.S. GDP. B) U.S. GDP increases. C) the transaction is considered an export in the German GDP accounts. D) net exports in the United States will not change because an export immediately generates an offsetting import.
Banks create money when they make loans
a. True b. False Indicate whether the statement is true or false
Banks destroy money when they:
A. fail to reissue loans that are paid off. B. clear checks against another bank. C. accept deposits of cash into checkable accounts. D. buy government bonds.
Suppose a satellite radio signal can be received by any number of devices without the quality being diminished but that the devices are only activated when consumers pay a subscription. Which recognized characteristic of goods holds
A. exclusivity. B. morality. C. rivalry. D. lucidity.