When compared with partnerships, which of the following is true about corporations?

P'ships=short time horizon Corps=limited liability

What was the primary cause of the Great Depression?

The Fed's resistance to counteract monetary-policy shocks

Which of the following, if true, would challenge the Model of Segregation?

Individual stores profit if they integrate first

What was the result of the Productivity Program implemented in European firms?

Firms' survival rates were greater after the implementation

Is President Obama Keynesian?

Yes, he believes in the economic equation: Y=C+I+G+NX

Why didn't the Federal Reserve take action when the economy was in a deep recession?

They believed in the wrong economic models

What is a real shock?

Thanos performing "the snap," cutting the population in half

Which of the following, if true, would challenge the model of labor supply?

Income effect > substitution effect = person works more

Which of the following is FALSE?

The Federal Reserve is the 4th official branch of government

Which of the following, if true, would challenge what we learned about transaction costs?

Comparative advantage means you specialize in all services

How do you feel about taking the second exam?

Fine, Piece of cake, Kinda nervous, Please don't make me

Why is deflation bad?

It increases the real value of debt & reduces investment

What happened to China under Mao Zedong?

Agriculture was organized into collectives, Four Pests Campaign was implemented, The Great Famine killed millions of people, The Great Leap Forward was implemented

Which of the following, if true, would challenge the Roy Model?

The cost of moving is different depending on where you live

How do you feel about taking the second exam now?

I got this in the bag, Bring it on!, I'm ready!, I'm feeling a solid A

What was NOT a goal of the Bank Holiday of 1933?

Let banks ease people's minds by making public statements

What was one of the immediate effects of enfranchising women?

Public health spending increased

What is an example of divergence?

A natives wage increasing 5% & a migrants wage decreasing 2%

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MGT 1050 Exam 3 Quiz

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Review questions for Exam 3

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Questions 30

Answers

1
When compared with partnerships, which of the following is true about corporations?
P'ships=short time horizons; Corps=unlimited liability
P'ships=short time horizon Corps=limited liability
P'ships=long time horizons; Corps=limited liability
P'ships=limited liability Corps=long time horizon
2
What was the primary cause of the Great Depression?
The Fed's resistance to counteract monetary-policy shocks
Banks failing and people hoarding cash
Margin purchases causing the stock market to crash
Great Britain leaving the gold standard; gold left the US
3
Which of the following, if true, would challenge the Model of Segregation?
Individual stores profit if they integrate first
Individual stores lose revenue if they integrate alone
To achieve desegregation, all stores must integrate together
There is no incentive for individual stores to integrate
4
What was the result of the Productivity Program implemented in European firms?
They realized management applications were useless
Firms' survival rates were greater after the implementation
Companies failed more frequently after the implementation
They found management principles to be boring
5
Which of the following is NOT a type of migration restriction enacted by the USA?
Racial restriction
Country-specific quotas
All the above are restrictions made by the USA
Literacy tests
6
Is President Obama Keynesian?
IDK, lots of people say he was born outside the USA
Please don't pronounce the K-word "keh-nee-jan"
No, he is from Hawaii
Yes, he believes in the economic equation: Y=C+I+G+NX
7
T or F: China's economic growth came by privatization and market-oriented policies
true
false
8
Why didn't the Federal Reserve take action when the economy was in a deep recession?
They believed in the wrong economic models
They were worried about getting re-elected
It wasn't their responsibility to take action
They didn't want to offend anyone
9
What is a real shock?
Thanos performing "the snap," cutting the population in half
Printing too much money, causing hyperinflation
Leaving the gold standard
The stock market crashing
10
Which of the following, if true, would challenge the model of labor supply?
Income effect > substitution effect = person works more
People work until their leisure is more important to them
Substitution effect > income effect = person works more
Consumption takes money, leisure takes time
11
Selection is determined by skills/education of a person migrating relative to the people in:
The destination neighborhood
The destination country
The USA
The home country
12
Which of the following is FALSE?
Congress has oversight of the Federal Reserve
The Fed Reserve building is the Marriner S. Eccles building
The President nominates the Federal Reserve chair
The Federal Reserve is the 4th official branch of government
13
Which of the following, if true, would challenge what we learned about transaction costs?
Comparative advantage means you specialize in all services
Firms won't go to market if transaction costs are too high
When you use the market, you incur transaction costs
A firm will do those things that it does the cheapest
14
What in the Glass-Steagall Act helped the US get out of the depression?
The creation of FDIC
Separated commercial banks from investment banks
It got the US off the gold standard
The introduction of "sticky" prices
15
How do you feel about taking the second exam?
Fine
Piece of cake
Kinda nervous
Please don't make me
16
Wages between blacks and whites were similar until what happened?
Literacy tests made it harder for blacks to vote
All of the above
Less voting led to less educational resources for blacks
Poll taxes made it harder for blacks to vote
17
Why is deflation bad?
It increases the real value of debt & reduces investment
It prevents balloons with π from popping
It makes prices go up
It makes North Korea happy
18
Which reason best describes the long run growth of female labor force participation?
Women wanted to protest the rampant discrimination of today
GIRL POWER
Women's increased education
Women had valuable experience from working during the war
19
Which of the following was NOT a result of the Great Leap Forward?
People went on a sparrow killing spree
Mao made China great again
Local officials falsified data on grain production
People melted their tools to contribute to steel production
20
What happened to China under Mao Zedong?
Agriculture was organized into collectives
Four Pests Campaign was implemented
The Great Famine killed millions of people
The Great Leap Forward was implemented
21
Describe a bank with enough assets to cover liabilities, but can't convert the assets to cash?
Illiquid
Reserve Requirement
Insolvent
Shorting Stock
22
Which of the following, if true, would challenge the Roy Model?
People have different skills classified as high or low
Income depends on skills and where you live
People like to maximize their wages
The cost of moving is different depending on where you live
23
Which of the following is NOT one of the Federal Mandates given to the Federal Reserve?
Moderate long-term interest rates
Stablilize prices
Increase the money supply
Maximize employment
24
How do you feel about taking the second exam now?
I got this in the bag
Bring it on!
I'm ready!
I'm feeling a solid A
25
Which of the following best describes how the Federal Reserve affects the economy?
By announcing what they want the Federal Funds Rate to be
By adjusting the money supply
By announcing what the state of the economy will be
The Fed can't control the economy…
26
What was NOT a goal of the Bank Holiday of 1933?
Provide the government time to get banks to stop failing
Get everyone to calm down
Prevent people from pulling their money out of the banks
Let banks ease people's minds by making public statements
27
Which of the following is an example of insolvency?
The Knickerbocker Trust Company in 1907
Hela shattering Mjolnir
The Whomping Willow destroying the Nimbus 2000
All of the above
28
What was one of the immediate effects of enfranchising women?
Black Widow was included in the LFPR
Child mortality increased
Public health spending increased
Women participated in local meetings less
29
Desegregation and the Voting Rights Act of 1965 did NOT lead to:
Higher infant mortality rates
More public funds to black populations
More black elected officials
Higher black voter registration
30
What is an example of divergence?
A migrants wage decreasing 5% & a natives wage decreasing 7%
A migrant's son getting a bachelor's degree
A native's son making less than their parent
A natives wage increasing 5% & a migrants wage decreasing 2%

MGT 1050 Exam 3 Quiz Flashcards | StudBud