Which of the following is MOST accurate about the early years of the Great Depression?
a. The price that farmers paid for farming inputs dropped, but the price they received for the products they sold dropped even more.
b. The price that farmers paid for farming inputs increased, forcing more farmers into debt.
c. The debt of farmers decreased.
d. The price that farmers received for the products they sold increased.
a. The price that farmers paid for farming inputs dropped, but the price they received for the products they sold dropped even more.
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Workers who are underemployed are:
A) not counted in the labor force. B) considered as employed. C) considered as discouraged workers. D) considered as unemployed.
Ceteris paribus, which of the following situations would result in the largest quantity of money demanded?
a. When nominal GDP = $1.4 trillion and the interest rate is 3 percent. b. When nominal GDP = $1.4 trillion and the interest rate is 6 percent. c. When nominal GDP = $1.2 trillion and the interest rate is 5 percent. d. When nominal GDP = $800 billion and the interest rate is 4 percent.