The United States' economy was most depressed in
A. 1923.
B. 1933.
C. 1943.
D. 1953.
B. 1933.
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Which of the following is the closest to being a perfectly competitive firm?
a. a hot dog vendor in New York b. Microsoft Corporation c. Ford Motor Company d. the campus bookstore e. a public university
Suppose we are at a long-run equilibrium point in an AD-AS model. Then the money supply falls. In the short run, is there any difference between what happens in the simple quantity theory of money (SQTM) version and the monetarist version of the model?
A) There is no difference. B) In the SQTM version, the price level falls; in the monetarist version, it does not. C) In the monetarist version, Real GDP falls; in the SQTM version, it does not. D) In the monetarist version, the price level falls; in the SQTM version, it does not. E) In the SQTM version, Real GDP falls; in the monetarist version, it does not.
Assume the MPC is 0.75. To eliminate an AD shortfall of $200 billion, the government should
A. Increase taxes by $66.7 billion. B. Decrease spending by $50 billion. C. Increase spending by $50 billion. D. Increase spending by $800 billion.
Which of the following is true?
A. Both if there are only two firms in a market, prices must be above marginal cost and if there is only one firm in a market, prices must be above marginal cost are correct. B. If there are only two firms in a market, prices must be above marginal cost. C. If there is only one firm in a market, prices must be above marginal cost. D. None of the answers is correct.