Question

21. A key indicator of the hardship experienced during the Great Depression is the: A) large...

21. A key indicator of the hardship experienced during the Great Depression is the:

A) large budget deficits. B) high rate of unemployment. C) large trade deficits. D) high rate of inflation.

22. ALL of the following describe economic conditions during the Great Depression in the United States EXCEPT:

A) low levels of production. B) high rates of unemployment. C) high rates of inflation. D) a sharp decline in stock prices.

23. The standard of living in an economy is best measured by:

A) output per person. B) average labor productivity. C) the inflation rate.  D) total output.

24. The process of steady increase in the quantity and quality of goods and services the economy can produce is called:

A) economic growth. B) production. C) aggregation.  D) globalization.

25. Which of the following correctly ranks the amounts from smallest to largest?
A) output per person, average labor productivity, total output
B)   total output, average labor productivity, output per person
C) total output, output per person, average labor productivity
D) output per person, total output, average labor productivity

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Answer #1

21 - Option B.

High rate of unemployment

Great depression is the state of prolonged recession. Hence high rate of unemployment will be its characteristic. The other options are present in many other cases.

22 - Option C

High rate of inflation

Great depression is the state of prolonged recession. It is not the inflation.

23 - Option A

Output per person

The other options are not the indicator of standaed of living.

24 - Option A

Economic growth

It is the rise in the capacity of eocnomy to produce a greater quantity and a better quality of goods and services

25 - Option A

Output per person , average labor productivity , total output.

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