Which of the following has been suggested as a cause of the Great Depression?
a. a decline in the money supply
b. a decrease in stock prices
c. the collapse of the banking system
d. All of the above are correct.
d
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The basic problem addressed in economics is
a. scarce resources and unlimited wants b. scarce wants and unlimited resources c. cost minimization d. how to manage a financial portfolio e. unlimited time and unlimited potential
A positive temporary supply side shock will:
A. increase the level of potential output in the long run. B. decrease the price level in the long run. C. increase the price level in the long run. D. have no effect in the long run.
Which of the following allegedly contributed to the stagflation in the mid-1970s?
A. Appreciation of the dollar. B. A sharp drop in the prices of farm products. C. A dramatic increase in oil prices. D. Rising productivity in manufacturing.
Major achievements of the European Union (EU) include the following, except:
A. Abolished tariffs and quotas among its member nations B. Liberalized the movement of capital and labor among its member nations C. Created common policies in agriculture, transportation, and business practices among its members D. Established a common fiscal policy among its member nations