The Beard-Hacker Thesis claims that post-bellum economic growth in the United States:
a. was slowed by rapid immigration.
b. was accelerated by rapid immigration from English speaking countries.
c. was slowed by the formation of industrial monopolies.
d. was accelerated by economic and financial changes generated by the Civil War.
d. was accelerated by economic and financial changes generated by the Civil War.
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Increases in revenue will
A) increase economic profit B) decrease economic profit C) may or may not affect economic profit D) leave economic profit unchanged.
Holding all other things constant, when the price level rises, interest rates:
a. rise and firms want to borrow more for new plants and equipment and households want to borrow less for homebuilding. b. rise and firms will want to borrow less for new plants and equipment and households will want to borrow less for homebuilding. c. fall and firms want to borrow more for new plants and equipment and households want to borrow more for homebuilding. d. all of the above
Minimum-wage laws
a. create unemployment. b. do not apply in states with right-to-work laws. c. affect highly-educated workers more than high school dropouts. d. cause labor shortages, which further raise wages above equilibrium.
The economy enters a period of robust economic growth that is expected to last for several years. How would this be reflected in the risk structure of interest rates?
A. A decrease in the term spread B. An increase in yields on tax-exempt bonds C. A decrease in the interest rate spread D. An inverted yield curve