How many years did it take the stock market to recover to the value it had been in September 1929? A. 3 years
A. 3 years
B. 10 years
C. 25 years
D. 54 years
C. 25 years
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When price elasticity is less than -1, consumer spending increases as price falls.
Answer the following statement true (T) or false (F)
If the graph shown is displaying a competitive labor market:
A. D would represent the workers' demand for jobs at each wage. B. Q* would represent the equilibrium wage. C. P* would represent how many people are employed in the market. D. Q* would represent the equilibrium number of workers in the market.
During a war, governments will sometimes draft people, most of whom are presently employed, into the army. An economist, computing the real cost of the war, would be sure to include which of the following items?
a. the value of the civilian goods no longer produced by the new soldiers b. the cost of feeding and clothing the new soldiers c. the dollar cost of the payroll d. the higher prices of civilian goods due to wartime shortages e. the cost of transporting the soldiers to combat
Which of the following resulted in a retaliation by the United States of increased tariffs on cheeses and meats from Europe?
(A) Steel Tariff of 2002 (B) Beef War of 1999 (C) Smoot-Hawley Tariff of 1930 (D) Chicken Tariff of 1963