The most significant kind of federal subsidy to railroads was   a.  loans from the U.S. government.   b.  reduced corporate income taxes.   c.  land grants.   d.  direct payments based on the number of miles of tracks laid.

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. 

To pay for WW I, the national debt was expanded from ___ percent of GDP at the beginning of the war to ___ percent of GDP by the end of the war.   a.  1; 5   b.  2; 13   c.  3; 32   d.  The national debt did not expand due to reparations payments.

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.

According to Walton and Rockoff, the primary reason for the demise of the canal system was    a.  excessive reliance on individual entrepreneurs so that a system of canals was never created.   b.  excessive government regulation that kept canal rates and profits too low.    c.  environmental damage from deforestation that left canals flooded at some times and dry at others.   d.  competition from the railroads. 

The Grangers are noted for   a.  encouraging the federal government to re-issue “greenbacks.”   b.  establishing cooperatives that sold farm and consumer goods to their members.   c.  refusing to sell grain to foreign countries.   d.  forming a cartel that set upper limits on members’ output of basic farm products.

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.

(02.03 LC)If a person is experiencing physical pain, which class of drugs is most likely to be prescribed?

cording to Walton and Rockoff, all of the following were among Jefferson’s main goals for land policy except:   a.  To assure clear property rights to the land owned by individuals.    b.  To drive Indians off the land and secure it for American settlers.    c.  To provide revenues to the federal government through sales.    d.  To spread democratic institutions.

(02.04 MC)A researcher studying the brain activity of individuals with Alzheimer’s disease is using PET scans to evaluate areas of the brain experiencing the most functional decline to create a new medication to target cognitive decline. Prior to the procedure, the steps involved in the PET scan process and any potential side effects associated with administering radioactive glucose are explained to the subject and their family. Which of the following ethical guidelines was followed?