53. What is the correct order of passage of the following six Congressional acts

Question

53. What is the correct order of passage of the following six Congressional acts from earliest date to latest date? [Except for these two, you should know what the acronyms stand for: EBA = Emergency Banking Act; WA = Wagner Act.] a. AAA EBA FERA NRA RFC WA b. EBA NRA RFC AAA WA FERA c. RFC AAA NRA EBA FERA WA d. NRA WA RFC FERA EBA AAA e. FERA EBA AAA NRA WA RFC 54. The Austrian view of the business cycle holds that: a. the actions of the central bank are the cause of our recessions. b. underconsumption is primary cause of recessions. c. recessions will worsen over time. d. recessions are mostly felt in the retail sector of the economy. e. we need government to stabilize the economy. 55. According to the Austrian argument, a coherent theory of the business cycle must explain: a. why cycles are repetitive. b. why there is a “cluster” of entrepreneurial errors leading to a recession. c. why the recession most intense in the service sector of the economy. d. All of the above. e. Only A and B of the above. 56. According to the Austrian business cycle theory which of the following is true about the economy? a. The fact that there is widespread business failure does not mesh with our understanding of how markets work. b. The broad disturbance in our economy points to a monetary cause. c. It is long-term capital investments that suffer the most. d. All of the above. e. None of the above.

Explanation / Answer

53. The correct order of passage of six Congressional acts from earliest date to latest date

b. EBA NRA RFC AAA WA FERA

Option b

54. The Austrian view of the business cycle holds that:

a. the actions of the central bank are the cause of our recessions.

Option a

55. According to the Austrian argument, a coherent theory of the business cycle must explain:
a. why cycles are repetitive.
b. why there is a "cluster" of entrepreneurial errors leading to a recession.

Hence, option e. Only A and B of the above.

56. According to the Austrian business cycle

a. The fact that there is widespread business failure does not mesh with our understanding of how markets work.

b. The broad disturbance in our economy points to a monetary cause.

c. It is long-term capital investments that suffer the most.

are true.

Hence, Option d. All of the above.

Related Questions

Navigate

• Browse (All)
• Browse 5
• Subjects

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.