In the first years of the new nation, American producers
(a) found it difficult to compete with the British in manufactured goods.
(b) quickly developed agricultural technology that was more efficient than that in England.
(c) did not use British manufacturing technology because England had forbidden the export of its technology.
(d) began to specialize in the production of manufacturing goods, selling them to England and Europe.
(a)
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For the period 1947-2012, the behavior of the U.S. money supply is best characterized as
A) nearly constant over time. B) somewhat smoother than GDP. C) somewhat more volatile than GDP. D) extremely volatile and unstable.
What was not one of the primary reasons why people opposed the First and Second Banks of the United States?
a. They printed too much money and triggered a substantial inflation. b. They had monopoly control over some banking activities. c. They were unconstitutional. d. They did not provide sufficiently generous lending policies.
Everything else constant, the international trade effect indicates that aggregate expenditures in the domestic economy fall when:
a. domestic prices fall relative to foreign prices. b. domestic interest rates fall relative to foreign interest rates. c. domestic prices rise relative to foreign prices. d. domestic purchasing power rises relative to foreign purchasing power. e. domestic interest rates rise relative to foreign interest rates.
Which of the following statements best describes the effects of rapid movements in exchange rates?
a. Rapid movements from a weak to a strong exchange rate may cripple a country's export industries, while rapid movements from a strong to a weak exchange rate may cripple its banking sector. b. Rapid movements from a weak to a strong exchange rate may cripple a country's banking sector, while rapid movements from a strong to a weak exchange rate may cripple its export industries. c. Rapid movements from a weak to a strong exchange rate may cripple a country's export industries, while rapid movements from a strong to a weak exchange rate may cripple its import industries. d. Rapid movements from a weak to a strong exchange rate may cripple a country's import industries, while rapid movements from a strong to a weak exchange rate may cripple its banking sector.