Asked by
Harvey Fisher
on Dec 11, 2024
Verified
Most economists believe the severity and duration of the Great Depression was primarily the result of
A) the large budget deficits of the federal government.
B) the reduction in tariffs and the influx of foreign imports during the early 1930s.
C) the excessive use of credit cards.
D) a sharp contraction in the money supply.
Budget Deficits
The situation when a government's expenditures surpass its revenues within a specific time period.
Money Supply
The total amount of monetary assets available in an economy at a specific time.
Credit Cards
Financial instruments issued by banks allowing cardholders to borrow funds with which to pay for goods and services with the promise to repay the bank within a certain timeframe.
- Acquire knowledge on the role and influence of monetary policy in the era of the Great Depression.
- Ascertain the aspects that determined the severity and timeframe of the Great Depression.
Verified Answer
HB
Learning Objectives
- Acquire knowledge on the role and influence of monetary policy in the era of the Great Depression.
- Ascertain the aspects that determined the severity and timeframe of the Great Depression.