Which of the following was NOT true during the Great Depression?
A) investment as a share of GDP was below 3 percent
B) unemployment averaged about 18.8 percent
C) prices dropped by one-fourth
D) output fell by nearly 30 percent
E) both B and C
Correct Answer:
Verified
Q2: Frictional unemployment is defined as
A)all unemployment above
Q3: The slope of the AS-curve becomes steeper
A)as
Q4: In the Keynesian aggregate supply curve case,
Q5: The level of GDP that corresponds to
Q6: The AD-AS diagram used in this chapter
A)is
Q8: The Keynesian AS-curve implies that
A)the economy is
Q9: Which of the following is FALSE?
A)the AS-curve
Q10: Assume you mistakenly buried a $100 bill
Q11: Most economists prior to Keynes thought that
A)unemployment
Q12: In the medium run, if government purchases
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