The gold standard probably made the Great Depression more severe in the United States because
A) the value of gold declined sharply during those years.
B) the existence of the gold standard kept prices from falling.
C) the money supply in the United States increased rapidly as gold flowed into the country.
D) the Fed attempted to reduce gold outflows by raising the discount rate.
D
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Aggregate supply is the same thing as:
a. total national spending. b. total domestic production. c. aggregate demand. d. a supply shock.
Which of the following causes the world's production possibilities curve to shift to the right?
a. a decline in the world's population due to AIDS b. a shift from capital goods to consumer goods production c. a civil war in Iraq, a major world producer of oil d. the development of a new technology that improves labor's productivity e. a worldwide recovery from a recession