The "Okies" were associated with each of these EXCEPT
A. the Dust Bowl.
B. John Steinbeck's The Grapes of Wrath.
C. the Great Depression.
D. the rust belt.
D. the rust belt.
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In the long run, a firm in a monopolistically competitive industry has its price equal to its
A) average total cost. B) marginal cost. C) marginal revenue. D) elasticity of demand.
Unlike a perfectly competitive firm, a monopolist faces a demand curve that is
A) upward sloping. B) horizontal. C) vertical. D) downward sloping.
Which person is most likely to be poor? A person who is
A. over 65 years of age. B. black. C. white and under 6 years of age. D. living in a female-heading family with children under 18.
In calculating GDP, governmental transfer payments, such as Social Security or unemployment compensation, are:
A. not counted. B. counted as investment spending. C. counted as government spending. D. counted as consumption spending.