In the early 1980s many farmers, caught between falling farm prices and rising costs, went bankrupt and defaulted on their bank loans
Indicate whether the statement is true or false
T
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Between the 1921 recession and 1929, the U.S. economy was described as healthy. Which of the following changes in economic indicators is correctly stated and supports this claim?
(a) Real Gross Domestic Product (RGDP) increased per capita (b) There were increases in real income but they were more unequally distributed (c) Consumer spending on credit increased dramatically (d) There was a decline in total building construction
Variables that change before real GDP changes are measured by the:
a. personal income index. b. real GDP index. c. forecasting gauge. d. index of leading indicators.
For a given technology and a given labor force, labor productivity will be ____ when the capital stock is ____
a. higher; larger b. lower; larger c. lower; unchanged. d. higher; smaller
Transfer payments
a. are payments that flow from government to households. b. are not made in exchange for currently produced goods or services. c. alter household income, but they do not reflect the economy's production. d. All of the above are correct.