In the Great Depression, the financial sector collapsed, as
A. many banks closed.
B. the bond market boomed, so people withdrew most of their funds from banks and invested heavily in bonds.
C. the stock market boomed, so people withdrew most of their funds from banks and invested heavily in stocks.
D. banks engaged in ruinous competition.
Answer: A
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The average price of goods and services in the economy is also known as
A) the cost of living. B) the inflation rate. C) a market basket. D) the price level.
An accountant may amortize the expense of a durable good by dividing the total amount spent on the good by the number of years the good is expected to last
An economist may amortize the expense of a durable and never fully account for the total expense. Indicate whether the statement is true or false
Assume that CDs are a normal good and that the price of stereo equipment falls while the labor costs of producing CDs increase. What will happen in the market for CDs?
What will be an ideal response?
Personal income minus personal taxes equals disposable personal income
a. True b. False Indicate whether the statement is true or false