Per the video clip on the Great Depression and Keynesianism, which of the following is false?
Answer: The US government was very proactive in fighting the great depression during 1929-1933
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Use the figure below to answer the following question.
In the past few years, the demand for donuts has increased. This would be illustrated by a change from
A. point 6 to point 3. B. point 5 to point 2. C. point 4 to point 6. D. point 1 to point 2.
In year one, the GDP deflator is 100 and in year two 110. If nominal GDP in year two is $300 billion, what is real GDP for year two?
A) $200 billion. B) $100 billion. C) $272.73 billion. D) $220 billion.
Which of the following is a possible explanation for the fall in prices after an industry is monopolized by combining a group of competitors?
a. A monopolist faces a downward sloping demand curve. Hence, output expansion leads to lower prices. b. A reduction in price increases producer surplus. Hence a monopolist may reduce the price of his product. c. A monopolist may reduce prices to make it difficult for other firms to compete. d. A monopolist can increase profits by reducing price when its cost of production declines due to increased size of the new firm. The fall in price is less than the decline in cost.
The regional Federal Reserve bank presidents are:
A. selected by the Federal Reserve Board of Directors. B. allowed to serve no more than two consecutive four-year terms. C. are responsible for regulatory oversight and implementation of monetary policy of regional banks. D. directly affiliated with other governmental agencies.