Which statement is true?
A. Subsidy payments to farmers were almost completely phased out in 2007.
B. The so-called new economy of the 1990s was neither new, nor very different from the economy of the previous 25 years.
C. Until the time of the Great Depression, the United States was primarily an agricultural nation.
D. There were no recessions during the presidency of Bill Clinton (January 1993-January 2000).
D. There were no recessions during the presidency of Bill Clinton (January 1993-January 2000).
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When a student uses a credit card to buy an iPod, the student is
A) borrowing in the bond market. B) borrowing in the loan market. C) lending in the stock market. D) lending in the bond market. E) lending in the loan market.
Assume that investment does not depend on the interest rate. A reduction in the money supply will cause which of the following for this economy?
A) no change in the interest rate B) no change in output C) a reduction in investment D) an increase in investment