According to Walton and Rockoff, the recession of 1937 and 1938 could be attributed to ______ and ______
a. the decline in world trade fostered by German and Japanese policies of self sufficiency, open market gold sales by the Federal Reserve
b. increases in taxes, open market gold sales by the Federal Reserve
c. increases in taxes, increases in bank required reserve ratios
d. the decline in world trade fostered by German and Japanese policies of self sufficiency, increases in bank required reserve ratios
c. increases in taxes, increases in bank required reserve ratios
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Income that flows to the private sector for services and production is called
A) national income. B) net income. C) derived income. D) deficit income.
Suppose we were analyzing the pound per Swiss franc foreign exchange market. If Switzerland's central bank intervenes to raise the value of the Swiss franc, then:
a. The supply of Swiss francs in the foreign exchange market rises, and England's monetary base rises. b. The supply of Swiss francs in the foreign exchange market rises, and England's monetary base falls. c. The demand for Swiss francs in the foreign exchange market rises, and England's monetary base rises. d. The demand for Swiss francs in the foreign exchange market rises, and England's monetary base remains unchanged. e. The demand for Swiss francs in the foreign exchange market rises, and England's monetary base falls.