Which of the following did not occur during the early years of the Great Depression?
(a) Marriage rates fell.
(b) Birth rates fell.
(c) Divorce rates increased.
(d) Actually, all of the above occurred.
(c)
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This Application illustrates
A) how U.S. domestic manufacturers of auto parts have been adversely affected in recent years. B) that U.S. parts manufacturers are now facing increasing global pressures. C) the trade-offs inherent in a global economy. D) all of the above.
When comparing a $100 billion increase in government expenditure to a $100 billion decrease in tax revenue, the effect of the increase in government expenditure on aggregate demand is
A) greater than the effect of the tax decrease. B) equal to the effect of the tax decrease. C) less than the effect of the tax decrease. D) positive whereas the effect of the tax decrease is negative. E) negative whereas the effect of the tax decrease is positive.
The big tradeoff between equality and efficiency exists because
A) redistribution uses resources and weakens incentives to work. B) redistribution uses resources and strengthens incentives to work. C) redistribution creates additional resources and weakens incentives to work. D) redistribution creates additional resources and strengthens incentives to work.
Firms will continue to enter a perfectly competitive industry until
a. the supply curve is vertical. b. the supply curve is meaningless. c. any excess returns have been competed away. d. all resources are fully employed.