In the United States, each bank panic in the late nineteenth and early twentieth centuries was accompanied by
A) inflation.
B) deflation.
C) a depression.
D) a recession.
Answer: D
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In the above figure, if the market is in equilibrium, area A + area B + area C equals
A) total surplus. B) consumer surplus. C) deadweight loss. D) producer surplus. E) total revenue.
Gls
A) results in smaller variances of the estimator than OLS if the regressors are strictly exogenous. B) is the same as OLS using HAC standard errors. C) can be used even if the regressors are not strictly exogenous. D) can be used for time-series estimation, but not in cross-sectional data.
The unemployment rate among African American workers in the United States is higher than that among white workers
a. True b. False Indicate whether the statement is true or false
Which of the following statements about the GDP gap is not true?
a. It widens during recessions and narrows down during expansions. b. When an economy's GDP gap equals zero, it operates on its production possibilities curve. c. It is a measure of output lost as a result of unemployment. d. There are more goods and services available in an economy as its GDP gap widens. e. It is equal to potential real GDP minus actual real GDP.