Which United States President is most closely identified with the Great Depression?
a. Calvin Coolidge.
b. Herbert Hoover.
c. Franklin Roosevelt.
d. Theodore Roosevelt.
e. Richard Nixon.
b. Herbert Hoover.
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When a change in the price level causes a change in the purchasing power of currency, which then changes planned real expenditures at all income levels, it is called
A) the real-balance effect. B) the open-economy effect. C) the substitution effect. D) the interest rate effect.
A major source of inefficiency in barter economies is that they require
A) a standard of deferred payment to make trade possible. B) more liquid stores of value than do monetary economies. C) a double coincidence of wants in exchange. D) All of the above are correct.
Refer to Figure 11-4. The movement from E to B to D in the figure above illustrates
A) diminishing returns to capital. B) an improvement in technology. C) diminishing returns to labor. D) a decline in capital per worker.
The current supervisory practice toward risk management
A) focuses on the quality of a bank's balance sheet. B) determines whether capital requirements have been met. C) evaluates the soundness of a bank's risk-management process. D) focuses on eliminating all risk.