watch https://www.youtube.com/watch?v=Dmt3St4anBQ&t=8s

1. The Great Depression put an emphasis on the science of macroeconomics.

• True
• False

2. Economic depression worldwide during the 1930's led to the rise of extremism and tyrannical governments.

Group of answer choices

• True
• False

3. Which of the following is true during the Great Depression?

Group of answer choices

• Consumption spending decreased and investment spending increased.
• Both consumption spending and investment spending decreased.
• Both consumption spending and investment spending increased.
• Consumption spending increased and investment spending decreased.

4. The proper remedy for the Great Depression was:

Group of answer choices

• controls that kept wages and prices from getting "out of whack."
• a reliance on the self-correction mechanisms built into a free market economy.
• a decrease in government spending.
• an increase in government spending.

5. To fix the GDP, the Great Depression showed that

Group of answer choices

• an increase in G can offset decreases in C and I.
• great resource waste resulted from WPA projects.
• free market economies adjusted quickly to offset the effects of declining demand.
• the aggregate supply curve shifts to offset a decrease in aggregate demand.

6. Economists in the 1930's believed that market economies should be left alone to fix themselves.

Group of answer choices

• True
• False

7. In the video, economists Scott Simkins and Robert Gordon point out that prices and wages were sticky during the Great Depression.

Group of answer choices

• True
• False

8. The onset of the Great Depression is best represented as:

Group of answer choices

• a decrease in aggregate supply.
• a decrease in aggregate demand.
• an increase in aggregate demand.
• an increase in aggregate supply.

9. An increase in aggregate demand at the vertical portion of the the aggregate supply schedule causes inflation and no increase in output.

Group of answer choices

• True
• False

10. Which of the following is true about inflation?

Group of answer choices

• Wages of workers may have a hard time catching up to price levels if they rise up rapidly. Thus, the real purchasing power of workers decreases.
• Wages of workers will have no problem of catching up to price levels if they rise up rapidly. Thus, the real purchasing power of workers increases.
• Inflation is not a serious problem.
• Wages of workers are always catching up to price levels if they rise up rapidly. Thus, the real purchasing power of workers is not affected.

11. To increase aggregate demand, the government can use fiscal policy to:

Group of answer choices

• Cut taxes and decrease in government spending .
• Cut taxes and increase in government spending .
• Raise taxes and decrease in government spending .
• Raise taxes and increase in government spending .