One important issue in the post-bellum currency debate concerned the coinage of silver by the federal government. Which of the following statements presents accurate information regarding the silver debate?
a. Silver circulated widely as money in the years immediately prior to the Coinage Act of 1873.
b. The Bland-Allison Act allowed for the Treasury to make limited monthly silver purchases at the market price.
c. Post-Civil War there was a fall in the output of American silver mines.
d. Congress passed the Coinage Act in 1873 despite widespread public opposition to this legislation at the time.
b. The Bland-Allison Act allowed for the Treasury to make limited monthly silver purchases at the market price.
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At the end of World War I (1918), the United States
A. emerged as the world's leading industrial power. B. was the world's largest economy. C. had become the greatest military power. D. All of the choices are true.
If the Fed lowers the federal funds rate, which of the following will NOT happen?
A) The real interest rate falls. B) Other short-term interest rates fall. C) Aggregate demand increases. D) Real GDP increases. E) The price level falls.
In a two-period model, holding everything else constant, an increase in government spending
A) unambiguously increases the current account surplus. B) unambiguously decreases the current account surplus. C) has an uncertain effect on the current account surplus. D) has no effect on the current account surplus.
Which of the following events best exemplifies the concept of signaling?
a. A college student's parents, having learned that their child is short of money, send her a check for $1,000. b. A new company making high quality bicycles at a reasonable price sends free bikes to reviewers working for bicycle magazines. c. A grocery store maintains a policy of examining the driver's license of everyone who writes a personal check to purchase his groceries. d. A university maintains a policy of considering for admission only those students who graduated among the top ten percent of their high school class.