What was a primary cause of bank closures during the late 1920s and early 1930s?
a. Banks issued large numbers of subprime, adjustable rate mortgages that borrowers could not afford.
b. Large numbers of people, hearing rumors of trouble, withdrew their money from banks.
c. Financial problems in other countries led many foreign investors to withdraw their money from the United States.
d. Criminal bank owners and managers, who fraudulently removed money from their banks.
b. Large numbers of people, hearing rumors of trouble, withdrew their money from banks.
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If the official gold value of the Australian dollar changes from 470 Australian dollars per ounce to 493 Australian dollars per ounce, we can say that the Australian dollar has appreciated in value
a. True b. False Indicate whether the statement is true or false
When companies add to their inventories
A. the amount of the change has no effect on the GDP. B. net exports go up. C. the amount of the change gets subtracted from the GDP. D. the amount of the change gets added to the GDP.
Given the data in the above table, if income is $16, and the price is $1 for a bottle of water and $2 for a hamburger, what is the quantity of water and the quantity of hamburgers that will maximize the consumer's total utility?
A) 5 bottles of water and 5 hamburgers B) 4 bottles of water and 6 hamburgers C) 6 bottles of water and 5 hamburgers D) 6 bottles of water and 6 hamburgers
Which nation's taxation is the lowest percentage of the nation's GDP?
a. Australia b. United States c. Germany d. Netherlands e. Sweden