The move to an international gold standard between 1896 and World War I:
a. encouraged the free flow of goods and capital between countries.
b. was accompanied by moderate increases in prices.
c. required a higher use of resources than would have been the case under a paper standard.
d. made it difficult to exercise expansionary monetary policy.
e. All of the above.
e. All of the above.
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For the past 15 years the American public has wanted to buy big trucks. The Big Three automakers delivered, investing billions in plants that build gas guzzlers. Now, when customers walk into showrooms, gas mileage is on their mind
Retooling the industry will take years, so in the meantime GM, Ford and Chrysler are tweaking their existing models. They're changing tires, adjusting transmissions and exhaust valves in hopes of getting one or maybe two more miles per gallon. Which of the decisions by the Big Three to gain gas mileage is a short run decision? A) adjusting exhaust valves B) adjusting transmissions C) changing tires D) All of these decisions are short run decisions.
According to the research of economic historians, Southern farms
(a) realized the gains from regional specialization in the production of cotton, tobacco, sugar and rice. (b) used the gang system to increase the production of slaves. (c) were far larger, on average, than farms in the North. (d) were all of the above.
Measuring the rate of inflation is primarily a concern of:
a. positive economics b. normative economics. c. microeconomics. d. macroeconomics.
The government can potentially improve market outcomes if market inequalities or market failure exists
a. True b. False Indicate whether the statement is true or false