During the rapid urbanization and industrialization between 1815 and 1859, there were no economic depressions.
Indicate whether the statement is true or false
Answer: False
You might also like to view...
Auto workers negotiate a wage increase. How does this wage hike affect the supply of cars?
A) It decreases the supply. B) It increase the supply. C) It has no effect. D) There is not enough information to tell if the change increases, decreases, or has no effect on the supply of cars.
In a perfectly competitive labor market, the least-cost combination rule for resource use
A) requires that resources be used in combinations such that marginal products are equal. B) requires that the marginal physical product per dollar spent for each resource is equalized. C) assures the firm an economic profit. D) assures the firm a normal profit.
Velocity can be calculated as the ratio of the value of transactions to
a. the price level. b. level of real GDP. c. the money stock. d. the inflation rate.
When a recession hits, we would expect the government to run a budget deficit by raising the level of its spending or by cutting taxes, or perhaps both. The Fed would be expected to:
A. reduce the required reserve ratio, increase the discount rate, and buy securities on the open market. B. reduce the required reserve ratio, reduce the discount rate, and sell securities on the open market. C. reduce the required reserve ratio, reduce the discount rate, and buy securities on the open market. D. increase the required reserve ratio, reduce the discount rate, and sell securities on the open market.