During the first four years of the Great Depression, the price level fell an average of 10 percent per year
a. True
b. False
A
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Which of the following programs provides food aid?
a. SNAP b. EITC c. TANF d. Medicaid
A reduction in the required reserve ratio has the instant effect of:
a. Increasing the monetary base. b. Increasing total bank reserves c. Increasing excess reserves. d. Increasing bank shareholders' equity. e. Decreasing bank shareholders' equity.
The difference between the national debt and a federal budget deficit is
A) nothing; the national debt and the budget deficit are the same thing. B) the federal budget deficit represents the total amount of outstanding government debt while the national debt includes only the increase in the debt during the current year. C) the national debt represents the cumulative effect of all previous budget deficits and surpluses, while the federal budget deficit reflects only the additions to the debt during the current year. D) the national debt is financed primarily through government bonds, while the deficit is financed through taxes.
Exhibit 12-7 Negative income tax
As shown in Exhibit 12-7, a family of four pays income taxes at:
A. an income of $5,000. B. any income between zero and $40,000. C. all levels of income. D. any income above $40,000.