All of the following took place during the Great Depression EXCEPT
A) increase in unemployment from about 3.4 percent to about 25 percent and a decrease in real GDP by about 30 percent between 1929 in 1933.
B) an increase in taxes because of the fear that budget deficits would undermine business confidence.
C) a fall in the money supply by more than 30 percent.
D) a rise in inflation during the early 1930s.
E) the stock market crashed by about one-third in October of 1929.
D
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Refer to the above table. Suppose the price of X increases from $10 to $12. What is the cross price elasticity of demand between X and Z?
A) +0.292 B) +7.06 C) -7.06 D) -0.292
Which of the following contributed to a slowdown in U.S. labor productivity during the 1970s?
a. An increase in the number of skilled legal immigrant workers b. An increase in the illegal employment of minors c. An increase in the number of skilled illegal immigrant workers d. The exit of the baby boom generation from the work force e. Lower energy prices