In the early 1900s, which of the following was not true?
A. Government intervention was commonly used to stimulate the economy.
B. Falling price levels appeared to limit an increase in unemployment.
C. Periods of high unemployment tended to be brief.
D. Say's Law seemed to work.
Answer: A
You might also like to view...
Policies to promote growth by increasing saving and investment work through
A) increasing the supply of loanable funds, lowering the interest rate, raising the level of investment in physical capital. B) increasing the supply of loanable funds, lowering the interest rate, lowering the level of investment in physical capital. C) increasing the supply of loanable funds, increasing the interest rate, raising the level of investment in physical capital. D) decreasing the supply of loanable funds, lowering the interest rate, raising the level of investment in physical capital.
Refer to Figure 23-1. At point J in the figure above, which of the following is true?
A) The economy has achieved macroeconomic equilibrium. B) Actual inventories are less than planned inventories. C) GDP will be decreasing. D) Aggregate expenditure is less than GDP.