Which statement is true?
A. Few Americans blamed Herbert Hoover for the Great Depression.
B. The U.S. experienced a brief depression in the early 1920s.
C. Most American homes were not wired for electricity until the late 1940s.
D. None of the choices are true.
B. The U.S. experienced a brief depression in the early 1920s.
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Starting from long-run equilibrium, a war that raises government purchases results in ________ output in the short run and ________ output in the long run.
A. lower; potential B. higher; potential C. higher; higher D. lower; higher
________ choose the quantities of factors of production to hire, and ________ choose the quantities of goods and services to produce
A) Entrepreneurs; firms B) Firms; firms C) Markets; markets D) Factor markets; goods markets E) Firms; households
Consumer sovereignty means that consumers vote with their dollars in a market economy, which helps determine what is produced
a. True b. False Indicate whether the statement is true or false
A change in demand is said to take place when there is a
A) shift of the demand curve. B) shift of the supply curve. C) price change. D) movement along the demand curve. E) quantity change.