Which statement is true? A. There was a great deal of stagfla B. We had the wors

Question

Which statement is true? A. There was a great deal of stagfla B. We had the worst recession since World War Il in the late 2000s C. We have had twelve reces D. All of the choices are true Which of the following was an element of the New Deal? e 1970s sions since January, 1945 2. A. Wage and price controls B. Unemployment insurance and bank deposit insurance C. Regulation of the stock market D. Unemployment insurance, bank deposit insurance, and regulation of the stock market, but not wage and price controls 3. Which statement is true? A. it is easier to attain full employment than full production. B. employment discrimination no longer exists in the U.S. labor market. C. The United States is usually operating on the production possibilities frontier. D. None of these statements are true

Explanation / Answer

1. Which statement is true?
A) There was a great deal of stagflation in the 1970s
Stagflation is a situation when economic growth stagnates and the inflation rises. Till the 1970s economists believed that there was a stable inverse relationship between inflation and unemployment.

2.Which of the following was an element of the New Deal?
A) Wages and price controls
New deal was a set of policies under the president Roosvelt during the Great Depression. These were created to offer economic help to the people and wages and price control definitely gives the economic help.

3. Which statement is true?

A) It is easier to attain full employment than full production
Achieving full employment literally does not mean that there is no unemployment, there could be voluntary or frictional unemployment. but according to Keynes it is always easy to get full unemployment but full production is not possible.

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