The popular and dominant school of economists in the 1930s who could not explain why the economy went into a depression were the:
A. Austrian School.
B. Ricardians.
C. Mercantilists.
D. Classical School.
Answer: D
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If the average propensity to consume is initially 0.85, the marginal propensity to consume is 0.75, and real disposable income increases by $1000, the value of saving
A. increases by $250. B. decreases by $250. C. increases by $150. D. decreases by $150.
Refer to the above figure. The competitive firm's short run supply curve
A. starts at A and goes along the MC curve as quantity increases. B. starts at B and goes along the ATC curve as quantity increases. C. starts at A and goes along the AVC curve as quantity increases. D. starts at B and goes along the MC curve as quantity increases.
Mortgage lenders often resell mortgages in secondary markets. How might this make lenders act differently than if they intended to hold the mortgages themselves?
What will be an ideal response?
The job of _____ is to impose a settlement.
A. an arbitrator B. a mediator C. a collective bargaining team leader