Which of the following assertions is false?
A) The Great Depression was a typical business cycle.
B) Very rapid growth occurred during World War II.
C) Real GDP per capita dipped about 30% during the Great Depression.
D) On average, the U.S. economy grows at a rate of 2.1%.
A
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The value of the real estate that a bank uses for its operations will be included in the bank's:
A) cash equivalents. B) reserves. C) short-term borrowing. D) long-term investments.
Specialization and trade make a country better off because with trade, the country can consume at a point
A) on its production possibilities frontier. B) on its trading partner's production possibilities frontier. C) inside its trading partner's production possibilities frontier. D) outside its production possibilities frontier. E) inside its production possibilities frontier.