During the Great Depression
A) the unemployment rate was not unusually high, but wage levels were low.
B) unemployment statistics were not collected.
C) the U.S. unemployment rate reached its historical highest.
D) most people who couldn't find work left the labor force, so the official unemployment rate remained low.
C
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A $0.2 trillion increase in government purchases increases the quantity demanded by $1.0 trillion, price level remaining constant. This additional spending reflects the _____ effect
a. recessionary b. expansionary c. simple spending multiplier d. income e. substitution
According to the rational expectations school, when monetary policy makers do exactly what is expected of them, their efforts to stimulate the economy will have no effect on employment
a. True b. False Indicate whether the statement is true or false
When the Fed buys government securities, banks' reserves ________, the quantity of money ________, and the federal funds rate ________
A) decrease; increases; falls B) increase; increases; falls C) increase; decreases; rises D) decrease; decreases; rises E) increase; increases; rises
Which of the following countries has the largest quota subscription at the IMF?
A) Japan B) Russia C) United States D) India