Blog

Beginning in 1971, the Nixon administration enacted a series of price controls in hopes of reducing inflation.  The first of these, known as Phase I,   a.  consisted of a complete price freeze.   b.  imposed a ceiling price on meat, but left other prices unregulated.   c.  froze wages, but left other prices unregulated.   d.  applied only to oil prices.

When an economy is at full employment, increases in military production   a.  cause a movement along the PPF.   b.  cause an outward shift in the PPF.   c.  mean that the economy is operating outside the PPF.   d.  mean that the economy is operating inside the PPF.

cording to Walton and Rockoff, all of the following were among Jefferson’s main goals for land policy except:   a.  To assure clear property rights to the land owned by individuals.    b.  To drive Indians off the land and secure it for American settlers.    c.  To provide revenues to the federal government through sales.    d.  To spread democratic institutions.

Features of “Reagonomics” include all of the following except:   a.  reduction in marginal tax rates.   b.  increased government expenditures for defense.   c.  deregulation of business.   d.  regular increases in the minimum wage.

Which nation was not an ally of the United States during World War I?    a.  Austria-Hungary.   b.  Britain.   c.  France.   d.  Russia.

The Frankish repertory of chants

The majority of slaves that were brought to the New World during the colonial period were used in the production of:   a.  cotton.   b.  sugar.   c.  tobacco.   d.  rice.

Which United States President is most closely linked with “The Great Society”?   a.  Franklin D. Roosevelt   b.  Lyndon Johnson   c.  Richard Nixon   d.  Ronald Reagan

According to the Keynesian interpretation of the 1930’s, the main reason we still had double digit unemployment in 1939 was that   a.  interest rates were too high.   b.  federal budget deficits were too small.   c.  the stock of money was too small.   d.  investment spending was too high.

The financial crisis that began in 2007   a.  was predicted in detail by Alan Greespan and Ben Bernanke.   b.  was centered on subprime lending and the complex financial instruments based on subprime loans.   c.  was caused by a downturn in the stock market.   d.  None of the above are correct.