Which of the following was true with regard to the Great Depression?
a. The policies of the New Deal brought the Great Depression to an end well before World War II.
b. Sound economic policy was followed during this era, which makes the length and severity of the Great Depression puzzling to economists.
c. The length and severity of the Great Depression was the result of unsound economic policies followed by both the Hoover and Roosevelt Administrations.
d. The Great Depression was largely the result of the highly expansionary monetary policy of the Fed during the 1930s.
C
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You should specialize in the production of a good if you have
A) an absolute advantage. B) more capital resources than your trading partner. C) more human resources than your trading partner. D) a comparative advantage.
Why are time series data unlikely to give an accurate estimate of demand?
A profit-maximizing firm in a competitive market is able to sell its product for $7 . At its current level of output, the firm's average total cost is $10 . The firm's marginal cost curve crosses its marginal revenue curve at an output level of 9 units. The firm experiences a
a. profit of more than $27. b. profit of exactly $27. c. loss of more than $27. d. loss of exactly $27.
Suppose you put $500 into a bank account today. Interest is paid annually and the annual interest rate is 3%. The future value of the $500 in 5 years to the nearest cent is
a. $575.00 b. $578.81 c. $579.64 d. None of the above is correct.