Industrial Enterprises Grew to Unprecedented Sizes in the Late Nineteenth

question 108

Multiple Choice

Industrial enterprises grew to unprecedented sizes in the late nineteenth and early twentieth centuries, partly because

• A) the population began to leave the cities to live in rural areas.
• B) markets were being closed all over the world.
• C) the American economy became isolated and primarily domestic.
• D) some new technologies required huge levels of investment and manpower.
• E) the government began to regulate industrial advancement.

Calculate the velocity of money given the money supply, money demand, and GDP.

Analyze the effect of central banks' monetary policies on the economy during recession periods.

Identify the effects of shifts in the money supply curve on equilibrium value, price levels, and money demand.

Understand the concept of real value of money and how it changes with prices.

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Definitions:

Human Capital

The collective skills, knowledge, or other intangible assets of individuals that can be used to create economic value for the individuals, their employers, or the community.

Compensating Differentials

The variation in wage rates paid to different workers, mainly due to the non-monetary advantages or disadvantages of specific jobs.

Talent

A natural aptitude or skill possessed by individuals.

Human Capital

Represents the economic value of a worker's experience and skills, including education, training, intelligence, skills, health, and other things employers value such as loyalty and punctuality.