What is the historical significance of Black Friday' in 1929?
a. The stock market crashed which ushering in the Great Depression and led to the establishment of the Securities and Exchange Commission.
b. The stock market lost one quarter of its value due to a computer glitch.
c. An oil shortage stalled the economy in the late 1970s
d. Black Friday sparked the great recession.
Question -2-Upon taking office in 2009, which of the following policies did President Obama advocate for in order to deal with the economic crisis?
a. increasing exports
b. increasing government spending
c. raising interest rates
d. enacting stricter tax policies
Question -3-The cost of borrowing money is directly linked to the __________.
a. the federal funds rate
b. the prime rate
c. the fixed rate
d. the adjustable rate
Question -4-The Great Depression pitted economists favoring __________ against those favoring __________.
a. regulatory policy; deregulation
b. monetary policy; fiscal policy
c. protectionism; free trade
d. laissez-faire economics; Keynesian economics
Question -5-Which of the following characterizes the latest trends in income inequality?
a. Inequality is shrinking
b. Inequality is growing
c. Inequality has not changed
d. Inequality has been volatile
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