The overall drop in stock prices that began in 1929 and continued through 1932 was due to:
A. dropping stock prices causing a rational sale of certain stocks.
B. a panicked massive sale of stocks which caused the stock prices to plummet.
C. the exuberant confidence in the rising value of the stock market in general.
D. the decline in profitability of companies.
B. a panicked massive sale of stocks which caused the stock prices to plummet.
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How long is the long run?
What will be an ideal response?
When there is a resource for which property rights are not well defined and there is a difference between private costs and social costs, then all but which of the following is a way to close the difference?
A) the free market system B) taxation C) subsidization D) regulation
Refer to the information provided in Figure 28.7 below to answer the question(s) that follow.
Figure 28.7Refer to Figure 28.7. The expected inflation rate is 6% if the economy is
A. on SRPC1. B. above SRPC2. C. on SRPC2. D. on SRPC3.
What line in the above graph would best represent the supply curve for land?
A. 1
B. 2
C. 3
D. 4