Walton and Rockoff contend that a repetition of the Great Depression is unlikely for all of the following reasons except ____
a. the Federal Reserve is unlikely to repeat the mistakes it made in the 1930s
b. the private sector is less vulnerable now because the industrial sector is relatively smaller
c. government programs exist that would ameliorate suffering and inhibit the spread of a crippling panic
d. the public is unlikely, even in a depression, to vote for a radical government that would frighten business and inhibit investment, the way it did in the 1930s
d. the public is unlikely, even in a depression, to vote for a radical government that would frighten business and inhibit investment, the way it did in the 1930s
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Suppose that there is an increase in disposable income and simultaneously an increase in the expected profitability of investment. As a result, the equilibrium real interest rate ________ and the equilibrium quantity of loanable funds ________
A) remains unchanged; increases B) rises; increases C) might rise, fall, or remain unchanged; increases D) falls; increases E) might rise, fall, or remain unchanged; decreases
When calculating real GDP, the reference base year
A) allows us to account for changes in GNP compared to GDP. B) always reduces the value of GDP compared to GNP. C) allows us to calculate the value of the goods and services in terms of prices of that base year. D) usually increases the value of GNP compared to GDP. E) allows us to increase the value of goods and services.
The Laffer Curve demonstrates that _____
a. at some level of tax rates, tax revenues decline b. there is no relationship between tax rates and tax revenue c. there is no relationship between tax rates and labor supply d. at some level of tax rates, labor supply declines
Recall the Application about setting the price of tickets for Major League Baseball games to answer the following question(s).According to the Application, due to the marginal revenue from ticket sales for a typical Major League Baseball team, the team could increase total revenue from ticket sales by ________ the price of tickets and ________ the quantity of tickets sold.
A. increasing; increasing B. increasing; decreasing C. decreasing; increasing D. decreasing; decreasing