The first banking crisis of the 1930s was probably caused by
a. low farm prices.
b. the stock market crash.
c. antagonism between Wall Street banks and Main Street banks.
d. Bank of England attempts to preserve the gold standard by raising interest rates.
b. the stock market crash.
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As firms reduce their stock of capital, labor demand ________ and labor supply ________
A) decreases; stays the same B) decreases; decreases C) increases; stays the same D) increases; increases
When a country imports a good, the ________ in consumer surplus is ________ the ________ in producer surplus
A) decrease; larger than; increase B) decrease; smaller than; increase C) increase; smaller than; decrease D) increase; equal to; decrease E) increase; larger than; decrease
The change in the money supply in an economy is measured as:
a. the difference between the government deficit and government borrowing. b. the sum of a change in high-powered money and the change in tax revenues. c. the difference between government borrowing and government spending. d. the ratio of the change in excess reserves to the deposit expansion multiplier. e. the change in the government budget deficit.
The labor supply curve is obtained by
a. summing the slopes of the marginal revenue product curves for individual firms b. summing the upward-sloping portions of individual workers' labor supply curves c. summing all individual workers' labor supply curves at each wage d. summing the downward-sloping portions of individual workers' labor supply curves e. averaging all individual workers' labor supply curves at each wage