During 1929-1933, monetary policy was
a. highly expansionary and this led to an increase in the general level of prices.
b. characterized by steady monetary growth, which resulted in price stability.
c. characterized by a sharp reduction in the supply of money, which led to downward pressure on prices and a decline in output.
d. highly expansionary and this led to a reduction in the general level of prices.
C
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If people expect the dollar to depreciate, then the
A) demand for dollars will decrease, the supply of dollars will increase, and the exchange rate will fall. B) demand for dollars will decrease, the supply of dollars will not change, and the exchange rate will fall. C) supply of dollars will increase, the demand for dollars will not change, and the exchange rate will fall. D) demand for dollars will increase, the supply of dollars will decrease, and the exchange rate will rise.
Using the data in the above table, which worker at Jefferson's Cleaners has the highest marginal product?
A) the second B) the third C) the fourth D) the fifth
When the MPC gets smaller, the spending multiplier:
a. gets larger. b. gets smaller. c. stays the same. d. gets smaller at low real GDP, and larger at high real GDP. e. gets larger at low real GDP, and smaller at high real GDP.
Which of the following is a likely consequence of a price ceiling that fixes the price of rental housing below the market equilibrium?
a. It will be difficult to find housing for rent. b. More new apartments will be built. c. Some rental apartments will be converted into offices or sold for other uses rather than be rented. d. All of the above are true. e. Both a and c are correct.