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The U

Economics

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The U.S. economy of the late 1920s and early 1930s is typically referred to as ________.

 

a.     "The Great Depression"

 

b.    "The Great Inflation"

 

c.     "The Great Moderation"

 

d.    all of the above

 

e.     none of the above

 

In a perfectly competitive market ________.

 

a.     prices adjust slowly to equilibrium

 

b.    buyers and sellers do not set prices and can only decide how much to buy and sell

 

c.     most goods and services are not standardized

 

d.    none of the above

 

Which of these economic variables is procyclical?

 

a.     the credit spread

 

b.    inflation

 

c.     unemployment

 

d.    none of the above