Macroeconomics Study Set 48
Quiz 17: Macroeconomics: Events and Ideas
The Start of an Expansion Is Determined by The
The start of an expansion is determined by the: A) Treasury Department. B) Federal Reserve. C) president. D) National Bureau of Economic Research.
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At the time of the Great Depression, there was: A) general agreement that monetary policy could help in the short run. B) no widely accepted theory of the causes of depressions. C) general agreement that fiscal policy could help in the short run. D) a consensus about what economic policies to adopt.
Which statement is FALSE? At the time of the Great Depression: A) the measurement of the business cycle was well advanced. B) there was no widely accepted theory of the causes of depressions. C) economists recognized that the economy did not always grow smoothly. D) the U.S. economy was substantially agricultural.
According to some economic historians, the first true modern recession took place in: A) the United States in 1854. B) Britain in 1825. C) Russia in 1860. D) Japan in 1890.
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