The evidence of building costs in the 1920s shows that the decline in total construction after 1926
(a) reflected the sharp increase in costs as the boom gathered strength.
(b) occurred when building costs remained stable.
(c) occurred in the presence of sharply falling costs that anticipated the 1929 crash.
(d) was a result of the contractionary monetary policies of the Fed.
(b)
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When a nation is producing on its production possibilities frontier, if more resources are used to produce one good, then the production of other goods
A) must increase. B) must decrease. C) must remain the same. D) must change but they might increase or decrease. E) might increase if the nation can produce more efficiently.
In the factor market, firms ________ and households ________
A) hire land, labor, capital, and entrepreneurship services; purchase goods and services B) supply land, labor, capital, and entrepreneurship services; hire land, labor, capital, and entrepreneurship services C) pay rent, wages, interest, and profit; earn rent, wages, interest, and profit D) purchase goods and services; supply goods and services E) supply goods and services; purchase goods and services