The Glass-Steagall Act became law in the
A) 1890s.
B) 1910s.
C) 1930s.
D) 1950s.
C
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A ________ occurs when a country's imports exceed its exports
A) budget surplus B) trade deficit C) trade surplus D) fiscal deficit
The dollar of the United States became the postwar world's key currency because of all EXCEPT
A) the early convertibility of the U.S. dollar in 1945. B) the special position of the dollar under the Bretton Woods system. C) the strength of the American economy relative to the devastated economies of Europe and Japan. D) central banks naturally found it advantageous to hold their international reserves in the form of interest-bearing dollar assets. E) the ease of transporting U.S. dollars compared with other currencies.
The per-worker production function in the Solow model assumes
A) constant returns to scale and increasing marginal productivity of capital. B) constant returns to scale and diminishing marginal productivity of capital. C) increasing returns to scale and diminishing marginal productivity of capital. D) decreasing returns to scale and diminishing marginal productivity of capital.
If more and better technology is used for producing wheat in the United States than in a lesser-developed country, then the:
a. MRP of the U.S. workers will be higher than the MRP of the workers in the lesser-developed country. b. MRP of the U.S. workers will be lower than the MRP of the workers in the lesser-developed country. c. demand for the U.S. workers will be lower than the demand for the workers in the lesser developed country. d. price of wheat will be higher in the United States than in the lesser-developed country. e. wages of the U.S. workers will be lower than the wages of the workers in the lesser-developed country.