After Hurricane Katrina destroyed much of the infrastructure of the United States Gulf Coast,
A) labor became more valuable.
B) labor became less valuable because of the capital that had been destroyed.
C) labor became less valuable because FEMA's response wasn't timely.
D) labor became more valuable because of the rebuilding effort.
B
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Which of the following bonds are considered to be default-risk free?
A) municipal bonds B) investment-grade bonds C) U.S. Treasury bonds D) junk bonds
The gold standard probably made the Great Depression more severe in the United States because
A) the value of gold declined sharply during those years. B) the existence of the gold standard kept prices from falling. C) the money supply in the United States increased rapidly as gold flowed into the country. D) the Fed attempted to reduce gold outflows by raising the discount rate.