“Reducing taxes increases incentives to work and save.”  This view is typically associated with    a.  Keynesian economics.   b.  “Reagonomics.”   c.  Johnson’s “Great Society” policies.   d.  the Carter administration.

Anna Schwatz and Milton Friedman have argued that the Great Depression was caused by   a.  the fall in the stock of money.   b.  the fall in consumer durable spending.   c.  the fall in investment spending.    d.  the increase in nominal wages.

The “gang system” is an example of   a.  specialization and division of labor.   b.  diminishing marginal product.   c.  the envelope theorem.   d.  Gresham’s law.

Anna Schwatz and Milton Friedman have argued that the Great Depression was caused by   a.  the fall in the stock of money.   b.  the fall in consumer durable spending.   c.  the fall in investment spending.    d.  the increase in nominal wages.

The “gang system” is an example of   a.  specialization and division of labor.   b.  diminishing marginal product.   c.  the envelope theorem.   d.  Gresham’s law.

The GI Bill is often credited for its   a.  universal health insurance.   b.  unemployment compensation program.   c.  impact on the rapid growth of higher education after World War II.   d.  high efficiency and lean bureaucracy.

. In the early 1980s, many people found themselves unable to purchase new homes because of   a.  rising prices and interest rates.   b.  rising prices and falling interest rates.   c.  new government restrictions on mortgages for first-time buyers.   d.  increases in income tax rates.

A _________ is an agreement under which stockholders of several formerly-competing companies turn over their shares to a group that exercises voting control over the companies.   a.  trust   b.  gentleman’s agreement   c.  holding company   d.  pooling arrangement

. In the early 1980s, many people found themselves unable to purchase new homes because of   a.  rising prices and interest rates.   b.  rising prices and falling interest rates.   c.  new government restrictions on mortgages for first-time buyers.   d.  increases in income tax rates.

What most accurately describes the implementation of the New Deal?   a.  It was implemented in two phases over the course of about eight years.    b.  Its major reforms were implemented in the first 100 days of Franklin Roosevelt’s Presidency.   c.  The first elements of the New Deal that were implemented were the most politically liberal.   d.  Most of the reforms were temporary and were phased out by World War II.