The most important factor in reversing the economic decline of 1929-1933 was that
A. the federal government finally balanced its budget.
B. the stock market began to rise.
C. people became more optimistic.
D. the federal government began to spend a huge amount of money.
D. the federal government began to spend a huge amount of money.
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The "double coincidence of wants" problem is
A) resolved under a system of barter. B) always present in all economic systems. C) resolved by the use of money. D) created by the use of money.
Regardless of quantity in long-run equilibrium, the industry price cannot exceed the
a. long-run average cost of supplying that quantity. b. total variable cost of supplying that quantity. c. long-run total cost of supplying that quantity. d. minimum long-run marginal cost of supplying that quantity.
Profit-maximizing firms will expand their employment of each variable resource until
a. the Marginal Revenue Product (MRP) of the resource is just equal to the price of the resource. b. other firms realize they can't compete. c. the MRP of the resource is below the cost of the resource. d. the MRP of the resource is above the cost of the resource.
Which country has the highest per capita health care expenditures in the world?
A) Canada
B) France
C) United States
D) Japan