If the increase in government expenditures of World War II (1941–45) is matched against the decrease in private investment and consumption during the same period, it was the end of World War II that officially concluded the depression era, not
the start of World War II, according to Robert Higgs (2007). Indicate whether the statement is true or false
True
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Consider each pair of strategies other than UP,RIGHT. Which of the following statements is not true about those pairs?
a. They are all Pareto Optimal. b. None of them are a Nash Equilibrium. c. The players would not mutually agree to play any of them if such an agreement were possible. d. Each requires that a player play a dominate strategy.
Starting from long-run equilibrium, a large tax cut will result in a(n) ________ gap in the short-run and ________ inflation and ________ output in the long-run.
A. expansionary; higher; higher B. expansionary; higher; potential C. recessionary; higher; potential D. recessionary; lower; lower
Pollution from the U.S. Middle West may not only harm New England and Canada, it may extend to cause harm to the entire solar system
Indicate whether the statement is true or false
Refer to the above table. How do we know that this is not a competitive firm?
A) The marginal physical product decreases as the amount of labor hired increases. B) The marginal revenue changes as output changes. C) The marginal revenue product decreases as the amount of labor increases. D) Marginal physical product cannot be computed for competitive firms.