According to monetarist theory, responsibility for the Great Depression lays with ________
A) the Federal Reserve System
B) the liberal rulings of the Supreme Court
C) the President and Congress of the United States
D) unfair trade practices
A
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If the real interest rate is 7 percent and the inflation rate is 7 percent, then the nominal interest rate is
A) 0 percent. B) 3.5 percent. C) 7 percent. D) 14 percent.
Government expenditure ________ change potential GDP and taxes ________ change potential GDP
A) can; can B) cannot; can C) can; cannot D) cannot; cannot E) None of the above answers is correct.
One advantage of a floating exchange rate system compared to a fixed or managed float exchange rate system is
A) it is easier for central banks to control inflation. B) there is no need for government intervention. C) it allows greater exchange rate stability. D) it eliminates the possibility of depreciation during a recession.
U.S. antitrust agencies tend to emphasize ________ surplus and generally challenge the merger if they believe the predicted price will ________ as a result of the merger
A) consumer; rise B) producer; rise C) consumer; fall D) producer; fall