Between the 1921 recession and 1929, the U.S. economy was described as healthy. Which of the following changes in economic indicators is correctly stated and supports this claim?
(a) Real Gross Domestic Product (RGDP) increased per capita
(b) There were increases in real income but they were more
unequally distributed
(c) Consumer spending on credit increased dramatically
(d) There was a decline in total building construction
(a)
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The per-worker production function is ____ sloped and ____ at a(n) ____ rate
a. negatively; decreases; diminishing b. negatively; decreases; increasing c. positively; increases; increasing d. positively; increases; diminishing
In making the "Malthusian Prediction," Reverend Malthus assumed that:
a. technological advance would be rapid; the supply of capital was unlimited; birth control techniques would limit population growth. b. there would be little if any technological advance; the supply of capital was fixed; birth control techniques would limit population growth. c. the supply of land was fixed in quantity; there would be little if any technological advance; the sexual desires of humans would work to increase production. d. the supply of land was fixed in quantity; technological advances would be rapid; the sexual desire of humans would lead to rapid population growth.