Walton and Rockoff contend that the likelihood of a Great Depression happening again is _______ because (among other reasons) _______
a. substantial, our continued dependence on a highly volatile stock market
b. substantial, of our reliance on a fractional reserve banking system
c. remote, policymakers are unlikely to repeat the mistakes of the 1930s
d. remote, industry now makes up a much larger share of GNP than it did in the 1930s
c. remote, policymakers are unlikely to repeat the mistakes of the 1930s
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Refer to Figure 4-1. If the market price is $2.50, what is the consumer surplus on the second ice cream cone?
A) $0.50 B) $1.50 C) $3.00 D) $10.50
Employment can rise in one region of the country while it falls in another
a. True b. False Indicate whether the statement is true or false
Consumption expenditures in the U.S. usually account for approximately __________ percent of GDP
A) 40 B) 50 C) 60 D) 70 E) 80
The goods and services used to calculate the consumer price index represent ________.
A. what an average household buys B. what households, businesses, and government purchase on average C. what households, businesses, and government purchase in total D. every household buys in total