Which of the following did not contribute to the U.S. banking collapse of 1929-1933?
a. The Federal Reserve System and other government agencies did not act quickly or decisively enough
b. Deposit insurance did not exist at that time.
c. The banking industry consisted of only a few very large banks.
d. The fact that the economy was in a continuous downward spiral during this period undermined depositors' confidence in the solvency of the banks.
c
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Gross Domestic Product measures the
A) quantity of the goods and services produced in a given year, listed item by item, within a country. B) income of the business sector within a country. C) market value of the final goods and services produced in a given year within a country. D) measures the market value of the domestic labor in a given year within a country. E) market value of the final goods and services consumed by households in a given year within a country.
Deb's income has just risen from $950 per week to $1,050 per week. As a result, she decides to increase the number of movies she attends each month by 5 percent. Her demand for movies is
A) represented by a vertical line. B) represented by a horizontal line. C) income elastic. D) income inelastic.
When the demand for housing slumps, carpenters might expect their incomes to fall
a. True b. False
The urban consumers that the CPI is based on does not include:
A. the unemployed. B. the retired. C. persons in prison. D. the CPI does not include any of these.