During the Great Depression of 1929–1933,
a. the Fed allowed the money supply to contract substantially.
b. the Fed increased the money supply sharply.
c. Congress cut tax rates sharply.
d. Congress cut tariffs substantially.
A
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In the figure above, which of the following transactions take place in the factor markets?
i. Michael, a student, orders a computer from Dell online. ii. Peter gets a job at a Wal-Mart store. iii. Apple Computer opens a new store in Georgia A) ii and iii B) only i C) only ii D) only iii E) i and ii
In a market, social surplus is maximized if consumers' willingness to pay for the good equals the ________
A) marginal private cost of producing the good B) marginal external cost of producing the good C) marginal social cost of producing the good D) opportunity cost of producing the good
Provide an example of each allocation method that illustrates when it works badly
What will be an ideal response?
Given that diesel cars get much better gas mileage than the typical car, an increase in the price of gasoline would be expected to:
A. decrease the demand for diesel cars. B. increase the demand for diesel cars. C. increase the demand for gasoline. D. decrease the demand for gasoline.