Which of the following statements is most accurate?
a. Most economic historians believe that the policies of the federal government were an important cause of the Great Depression.
b. Most economic historians believe rapid increase in inequality caused the Great Depression.
c. The US experienced a relative absence of cyclical unemployment and was relatively free from the mass joblessness that had previously plagued the nation.
d. More homogenous communities chose to have higher taxes to fund schools.
b. Most economic historians believe rapid increase in inequality caused the Great Depression.
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If the economy is producing at point B, the opportunity cost of gaining 12 units of consumer goods is _______ units of capital goods.
One reason earnings tend to fall before retirement age is that
A) the experience of people is no longer valuable after they are 50 or 55. B) people tend to reduce the number of hours they work after age 50. C) people are retiring earlier. D) firms discriminate against older workers.
Assume an economy experienced a positive rate of inflation between 2003 and 2004 and again between 2004 and 2005 . However, the inflation rate was lower between 2004 and 2005 than it was between 2003 and 2004 . Which of the following scenarios is consistent with this assumption?
a. The CPI was 100 in 2003, 110 in 2004, and 105 in 2005. b. The CPI was 100 in 2003, 120 in 2004, and 135 in 2005. c. The CPI was 100 in 2003, 105 in 2004, and 130 in 2005. d. The CPI was 100 in 2003, 90 in 2004, and 88 in 2005.
Which of the following is a common result of rent controls?
a. Tenants often move from one rent-controlled apartment to another. b. The upgrades for rent-control apartments increase. c. New housing incentives are reduced. d. Landlords increase their profits.