The major cause of the Depression of the 1930s according to the Keynesian model was
A. increased government spending.
B. reduced foreign exports.
C. reductions in investment.
D. a decline in the money supply.
C. reductions in investment.
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Goods that are rival in consumption and excludable are:
A. a common resource. B. a private good. C. a public good. D. an artificially scarce good.
"An increase in the federal minimum wage causes an increase in unemployment among teenagers" is a:
a. statement of positive economics. b. statement of normative economics. c. testable value judgment. d. fallacy of composition.
In the open-economy macroeconomic model, a decrease in the domestic interest rate shifts
a. demand in the market for foreign-currency exchange to the right. b. demand in the market for foreign-currency exchange to the left. c. supply in the market for foreign-currency exchange to the right. d. supply in the market for foreign-currency exchange to the left.
Restructuring of a major industry resulted from the:
A. U.S. Steel case. B. AT&T case. C. IBM case. D. DuPont cellophane case.