The United States experienced _______________ from 1930 to 1933.
A. stagflation
B. inflation
C. deflation
D. budget surpluses
C. deflation
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Describe the Clayton Act
What will be an ideal response?
The nominal interest rate ________
A) makes no allowance for inflation B) is a percentage of the amount borrowed C) is the rate that most banks advertise D) all of the above E) none of the above
If the government reduced the minimum wage and pursued contractionary monetary policy, then in the long run
a. both the unemployment rate and the inflation rate would be lower. b. the unemployment rate would be lower and the inflation rate would be higher. c. the unemployment rate would be higher and the inflation rate would be lower. d. the unemployment rate and the inflation rate would be higher.
A nation can produce two products: steel and wheat. The table below is the nation's production possibilities schedule:
Refer to the above table. In moving from combination E to F, the opportunity cost of an additional unit of steel is:
A. 5 units of steel
B. 0 unit of wheat
C. 1 unit of steel
D. 30 units of wheat