When the money supply declined by approximately 30 percent during the 1929 through 1933 period,
a. real output increased.
b. the general level of prices increased.
c. the velocity of money increased by a proportional amount.
d. unemployment increased.
D
You might also like to view...
Answer the following statements true (T) or false (F)
1. In recent years, immigration has contributed an insignificant amount to the U.S. population growth. 2. The main driver of economic immigration is the opportunity to improve earnings and living standards. 3. The majority of international migrants move to countries relatively close to their home countries because close proximity reduces the cost of the move relative to anticipated benefits. 4. Other things equal, larger wage differences between nations tend to increase the flow of immigration toward the country with higher wage opportunities.
The presence of navigable rivers and fertile soil is seen as a source of economic prosperity under the:
A) location hypothesis. B) geography hypothesis. C) culture hypothesis. D) institutions hypothesis.
The government of Richland has set a minimum wage for factory workers. This will lead to an ________ if above the current market wage
A) increase in total surplus B) increase in the number of workers supplied C) excess demand for workers D) increase in income inequality
If consumer incomes go up and cars are a normal good, the effect on the demand for cars ceteris paribus, will be a(n):
a. upward movement along the demand curve for cars. b. downward movement along the demand curve for cars. c. rightward shift in the demand curve for cars. d. leftward shift in the demand curve for cars.