In terms of the aggregate demand and aggregate supply framework, the Great Depression can be viewed as a:
a. rightward shift of the aggregate demand curve
b. rightward shift of the aggregate supply curve.
c. downward movement along the aggregate demand curve.
d. a leftward shift of the aggregate demand curve.
e. a leftward shift of the aggregate supply curve.
d
You might also like to view...
One difference between stocks and bonds is that
A) stocks do not involve a promise to repay a purchaser of the stock, while bonds represent a promise to repay the purchase price of the bond. B) stocks represent ownership in companies, while bonds represent ownership in banks. C) stocks are financial securities, while bonds are labor market securities. D) stocks are usually issued in electronic form, while bonds are usually issued in paper form.
Asymmetric information is:
A) information revealed by economic agents turns out to be wrong. B) inflation forecasts are systematically to high or too low. C) some economic agents have more information than others. D) the government knows less about the economy than households and firms.
To protect the cod fishery off the northeast coast of the U.S., the federal government may limit the amount of fish that each boat can catch in the fishery. The result of this public policy is to:
A) shift the cod demand curve to the left. B) shift the cod demand curve to the right. C) shift the cod supply curve to the right. D) shift the cod supply curve to the left.
Which of the following is not one of the basic economic questions that all economies must answer?
What will be an ideal response?