Which of the following statements is false?
A. The recession of 2001 was mild.
B. Output in the United States fell by about one-half between 1929 and 1933.
C. The inflation rate declined during the Eisenhower and Reagan administrations.
D. None of these statements are false
B. Output in the United States fell by about one-half between 1929 and 1933.
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The long-run cumulative dynamic multiplier
A) cannot be calculated since in the long-run, we are all dead. B) is the sum of all individual dynamic multipliers. C) is the coefficient on Xt-r in the standard formulation of the distributed lag model. D) is the difference between the coefficient on Xt-1 and Xt-r.
The typical monopolistically competitive firm earns no economic profit in the long run, regardless of whether or not it advertises
a. True b. False