The reforms introduced by Congress in the 1930s led to:
A. the Great Crash.
B. relative financial stability for over 70 years.
C. the Great Depression to be worse than it needed to be.
D. a further decline that lasted for 25 years.
Answer: B
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If the utilization rates of capital and labor are procyclical, then
A) output will rise in recessions and decline in expansions. B) measured productivity will be constant. C) the Solow residual will be procyclical. D) prices will be countercyclical.
Compared with a U.S. Treasury note, a corporate bond is likely to have a
A) wider bid-asked spread. B) narrower bid-asked spread. C) higher bid price. D) higher asked price.
Suppose total government spending is increased permanently by ten percent, with no change in tax rates. In the long run, the resulting deficit will disappear, ________
A) only if government spending is brought back down to the original level B) if economic growth raises tax revenue by ten percent C) if the government debt is sold to foreigners D) unless the money is spent entirely on government consumption
Josiah installed a metal sculpture in his front yard. A negative externality arises if the sculpture a. increases the value of other properties in the neighborhood. b. decreases the value of Josiah's home
c. is visually appealing to Josiah's neighbors. d. creates a safety hazard for neighborhood children.