New classical economists like Robert Lucas argue that the Great Depression was primarily caused by
a. lots of mistaken expectations about the future.
b. significant falls in investment.
c. significant falls in the money supply.
d. significant increases in taxes.
e. all of the above.
A
You might also like to view...
The following table shows the demand for notebooks of four consumers
Price ($/unit) Consumer 1 Demand (units) Consumer 2 Demand (units) Consumer 3 Demand (units) Consumer 4 Demand (units) $8 8 6 9 10 $6 16 10 15 18 $4 20 13 21 24 $1 22 17 24 27 Define the term "market demand." If these four consumers constitute the entire market, calculate the market demand for notebooks at $1, $4, $6, and $8.
The difference between the money interest rate and the real interest rate is the
a. prime interest rate. b. nominal interest rate. c. exchange rate. d. inflationary premium.