From 1922 to 1929, the total value of the stock market:
A. more than tripled.
B. decreased by nearly 50 percent.
C. decreased by nearly 90 percent.
D. stayed the same.
A. more than tripled.
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Gross domestic product is calculated by summing up the
A) total quantity of goods produced in the economy during a particular year. B) total quantity of final goods and services produced in the economy during a particular year. C) total market value of final goods produced in the economy during a particular year. D) total market value of final goods and services produced in the economy during a particular year.
In year one, the GDP deflator is 100 and in year two 110. If nominal GDP in year two is $300 billion, what is real GDP for year two?
A) $200 billion. B) $100 billion. C) $272.73 billion. D) $220 billion.
If a demand curve shifts, we know that
A) the price of the good itself is not a factor. B) the price of the good itself is a factor. C) the price of the good and supply are the major factors. D) the price of the good and demand are major factors.
A perfectly competitive firm is hiring variable resources M and N. It will minimize total costs
A) MRPm/MFCm = MRPn/MFCn. B) MRPm ? MFCm = MRPn ? MFCn. C) Pm/MPPm = Pn/MPPn. D) MPPm/Pm = MPPn/Pn.