Which view of the causes of the Great Depression emphasizes that there is little evidence that the economy was suffering from any real shortage of money; the problems, instead, stemmed from a fall of private consumption and investment spending?
(a) The Monetarists'
(b) The Keynesians'
(c) The Austrians'
(d) The International View
(b)
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Other things remaining the same, which of the following is likely to decrease both the wage rate and the number of workers hired in a tea estate?
A) An increase in the price of tea B) A decrease in the price of tea C) A decrease in the opportunity cost of leisure D) An increase in the opportunity cost of leisure
You bought two new CDs with the last $30 in your checking account, and your next payday is on Monday. What is the opportunity cost of these CDs?
(A) $30. (B) Dinner and a movie with your friends Saturday night. (C) Knowing you are the first of your friends to have these CDs. (D) The difference between the cost to produce the CDs and the price you paid for them.