In the United States, the idea that the federal government should undertake actions to stabilize business activity
A) was established in the Declaration of Independence.
B) is a relatively new idea that developed in the years during and after the Great Depression.
C) has been around since the early 1700s.
D) developed during World War I.
Answer: B
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A shift in the production possibilities frontier curve will occur as a result of all of the following except
a. a change in the endowment of resources. b. a change in technology. c. a change in the production of one good relative to another good. d. a change in land, labor, or capital.
Resources that ________ protected by well-defined property rights are in ________ of being depleted
A) are; great danger B) are; absolutely no danger C) are not; the greatest danger D) are not; little danger
Banking under a fractional reserve system is inherently risky, but
a. safe if banks are allowed to make profits. b. regulation removes all danger of failures. c. is always safely done with modern management. d. is made safer with cautious and prudent management.
From the perspective of the United States, an increase in the nominal exchange rate will cause which of the following?
A) the dollar becomes less expensive to foreigners B) foreign goods are more expensive to Americans C) foreign currency is more expensive to Americans D) American goods are more expensive to foreigners E) none of the above