The International View of the Great Depression blames the contraction in the U.S. economy on
(a) the failure of the U.S. markets to permit a fall in aggregate prices under the
gold standard or to devalue its exchange rate.
(b) exports' and imports' large proportion of total GDP in the U.S.
(c) Great Britain abandoning the gold standard.
(d) all of the above.
(a)
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On what kind of income is our tax system based?
A) nominal B) adjusted C) real D) inflationary
In the perfectly competitive market, all firms in the market are assumed to be producing:
a. identical products. b. differentiated products. c. products that are heavily advertised. d. complementary products.
In which of the following years was a tax cut ineffective in stimulating aggregate demand?
a. 1964 b. 1975 c. 1981 d. 1999
Alex, a resident of the United States, has accrued capital gains and she died prior to the realization of her gains. Which of the following is true of Alex's capital gains?
A. Her capital gains are tax free. B. Her capital gains are transferred to government revenue. C. Her heirs cannot sell her asset immediately. D. Her heirs cannot hold her assets.