Which statement is false?
A. Had the stock market not crashed and the rest of the world not gone into a depression, the U.S. depression might have been avoided.
B. By the end of 1930 thousands of banks had failed.
C. By the first week in March 1933 every single bank in the United States had shut its doors.
D. None of the statements are false.
D. None of the statements are false.
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Suppose that a more efficient way to produce a good is discovered, thus lowering production costs for the good. This will cause
A. a movement up along the current supply curve. B. a movement down along the current supply curve. C. a rightward shift of the supply curve. D. a leftward shift of the supply curve.
Dave, a U.S. citizen buys a bicycle manufactured in China. Dave's purchase is
a. both a U.S. and Chinese export. b. both a U.S. and Chinese import. c. a U.S. import and a Chinese export. d. a U.S. export and a Chinese import.
One of the possible consequences of the expenditure schedule lying below the level of full employment GDP is
A. unemployment. B. rising prices. C. increasing production. D. decreasing inventories.
A game in which players as a group lose at the end of the game is referred to as
A) zero-sum game. B) negative-sum game. C) positive-sum game. D) tit-for-tat game.