Samuel Gompers is most recognized for:    a.  the invention of air brakes for trains.   b.  his role as an early union leader.    c.  invention of a steel manufacturing process.    d.  the development of refrigerated train cars. 

If a product exhibits decreasing returns to scale, then the average cost of making the product will ______ as a company produces more of it?    a.  Increase.   b.  Decrease.   c.  Remain the same.   d.  There is insufficient information provided to ANSWER the question.

Which of the following most accurately describes the “Fisher effect?”    a.  Interest rates increase after inflation and decrease after deflation, but with a long lag.    b.  Interest rates are independent of inflation and deflation.    c.  Interest rates increase after inflation, but are not affected by deflation.    d.  Increasing interest rates precede inflation and decreasing interest rates precede deflation. 

According to Gresham’s Law,   a.  inflation and unemployment are inversely related.   b.  tax rates and tax revenues are inversely related.   c.  bad money drives out good money.   d.  inflation is inevitable in the long run.

Residents of the developing American colonies lived _______ lives compared to people living in the advanced countries of that time because ________.   a.  better; of favorable protections from England   b.  better; of high levels of output per worker.   c.  worse; of unfavorable taxation   d.  worse; of the inaccessibility of both capital and finished machine goods.

What most accurately describes the U.S. compared to other nations in the early 1900s?   a.  The U.S., which was still quite young, was one of the least productive nations in the world in both the agricultural and manufacturing sectors.   b.  The U.S., Great Britain and Germany were the three most industrialized nations.   c.  The industrial output in the U.S. was about average compared the rest of the nations in the world.   d.  The U.S., which had large supplies of land, had a highly productive agricultural sector, but its industrial productivity was quite low relative to that of other nations.

(04.02 MC)Which of the following accurately describes menopause?

(04.04 MC)Patrick, a one-year-old baby, attends a daycare where his teacher is bilingual. While at school, Patrick looks at a book, points to a picture, and says “gato.” When he sees the same picture at home, he says “cat.” Which stage of language development is Patrick in?

The charter of the Bank of the United States was not renewed in 1811 in part because ​   a.  Thomas Jefferson, who was president at the time, believed it to be unconstitutional.   b.  of years of general instability in the value of currency.   c.  of instability and uncertainty in the expansion of credit.   d.  of fears of foreign ownership and manipulation.

Modern investment banking houses emerged in the U.S. in the 19th century to assist in financing   a.  railroad construction.   b.  mail-order houses.   c.  large corporations producing iron and steel.   d.  the textile industry.