ECON2200 Exam 3 Notes 10

ECON2200 Exam 3 - were significantly higher than the overall US unemployment rate T Historical data show that recessions inevitably follow stock

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Econ2200 True/False Practice Questions T Between 1896-1900, increases in US exports led to an increase in the domestic supply of gold. T President Grover Cleveland was a “sound money” Democrat T Under the Bland-Alison and Sherman Silver Purchase Acts, the Treasury made limited purchases of silver at the market price. T In the late 19 th century, high-powered money included gold coins, silver coins, and national bank notes. F The marginal product of labor tends to decrease when firms replace older plants with newer, more “high-tech” plants. T Between 1923 and 1929, the US unemployment rate was largely determined by frictional and structural factors F Research by economic historians shows that large cities in the northern US led the way in establishing high schools. F A “yellow dog contract” is when a firm hires a private security company to monitor and disrupt union activities. T During the Great Depression, unemployment rates for African Americans living in cities
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Unformatted text preview: were significantly higher than the overall US unemployment rate. T Historical data show that recessions inevitably follow stock market crashes. F Cliometric research indicates that between 1922-1929, the supply of call loans increased more rapidly than the demand for call loans. T Compared to an investor who makes a cash purchase of stock, a margin investor’s rate of return will be greater if the price of stocks rises. F The demand for farm products is price elastic, while the supply of farm products is price inelastic. F The Federal Reserve did nothing to help failing rural banks in the 1920s, but the Fed finally began to act as a lender of last resort when the Bank of the US experienced a bank run in late 1930s. T Hoarding of gold in the early 1930s led to decreases in bank reserves. T The Coinage Act of 1873 omitted the silver dollar from the list of coins to be minted...
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This note was uploaded on 09/13/2011 for the course ECON 2200 taught by Professor Moore during the Spring '07 term at University of Georgia Athens.

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ECON2200 Exam 3 - were significantly higher than the overall US unemployment rate T Historical data show that recessions inevitably follow stock

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