When the Great Depression reached its trough in 1933, real GDP had fallen by ________ since the depression began in 1929.
A) 5%
B) 10%
C) 30%
D) 50%
Correct Answer:
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Q1: According to the international trade effect, holding
Q3: A change in the price level, all
Q4: Which of the following is false about
Q5: According to the wealth effect, if the
Q6: What is the interest rate effect that
Q7: Potential output is
A) the level of real
Q8: Aggregate demand is the total value of
Q9: Aggregate demand is defined as
A) the demand
Q10: The economy's potential output corresponds to the
Q11: A change in the aggregate quantities of
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