In the year after the stock market crash of 1929, stock prices on average ___
a. were lower than they had been in decades.
b. were lower than in 1929 but higher than in the mid-1920s.
c. rebounded to a level higher than in 1929.
d. cannot be reliably calculated because no buyers could be found for many stocks, and hence no prices were reported.
b. were lower than in 1929 but higher than in the mid-1920s.
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Research conducted by Justin Wolfers and Betsey Stevenson shows that as GDP increased, respondents reported all of the following except
A) fewer choices over how they spend their time. B) less physical pain and depression. C) more general enjoyment. D) being treated with greater respect.
Checkable deposits are money because
A) they are protected by the Federal Reserve. B) they are guaranteed by banks. C) checks bounce when there are not enough funds to cash them. D) they can be converted into currency on demand and are used directly as a means of payment. E) only banks and other financial institutions can offer them.