The Great Depression of the 1930s
a. confirmed the value of a "hands off" policy for governments.
b. was exacerbated by an expansionary monetary policy.
c. was a worldwide event.
d. continued throughout the 1940s without any interruption.
c
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Adam Smith believed that markets coordinated the self-interests of consumers.
Answer the following statement true (T) or false (F)
The decrease in consumer surplus and producer surplus that results from an inefficient level of production is called the
A) external cost. B) external benefit. C) deadweight loss. D) big tradeoff.
Models must
A) be able to yield useable predictions. B) be totally realistic in every detail. C) be a complete reproduction of the real world. D) include every relationship that exists.
From the late 1960s to the late 1980s, in the United States SAT scores
a. and graduation rates increased. b. and graduation rates decreased. c. and school attendance rates decreased. d. decreased and school attendance rates increased.