Which of the following conditions during 2008-2009 most closely paralleled the economic conditions of the Great Depression?
a. record-high unemployment rates for a period of many years
b. a sharp and prolonged contraction in the money supply
c. significant increases in taxes and trade restrictions in order to counter budget deficits
d. frequent policy changes that generated an unstable and unpredictable economic climate
D
You might also like to view...
Supply-side economics focuses on ________
A) the positive effect of tax cuts on aggregate supply B) the impact of an increase in the rate of inflation on aggregate supply C) the impact of changes in aggregate supply on market demand D) the trade-off between aggregate demand and aggregate supply
The poverty rate is defined as:
A. the percentage of the population that falls below the relative poverty line. B. the percentage of the population that falls below the absolute poverty line. C. the percentage of low income earners to high income earners. D. the lowest one percent of all income earners.
GDP excludes most items that are produced and sold illegally and most items that are produced and consumed at home because
a. the quality of these items is not high enough to contribute value to GDP. b. measuring them is so difficult. c. the government wants to discourage the production and consumption of these items. d. these items are not reported on income tax forms.
The equation of exchange
A. always balances. B. usually balances. C. sometimes balances. D. never balances.