Answer: Brigadier General William Sibert
Explanation:
On June 8, 1917, Brigadier General William Sibert assumed command of them as the “First Expeditionary Division.” Organized as a “square” division of more than 28,000 men, the First Division was twice the size of either the Allied or German divisions on the Western Front.
Typically changing prices only affect supply and demand when one creates artificial demand for it. In almost any cases, it is typically the supply and demand that affects the price changes.
We must firstly understand how supply and demand affect changing prices before we can understand the opposite effect. For example, if there is 100 units, and there are only 50 buyers, the supply is more than the demand. To generate artificial demand therefore, the supplier may lower the prices in an effort to sell off all units. On the other hand, if there is 100 units, but there are more than 100 buyers, than the supplier may raise the prices. This lowers the demand for the product as well as maximizing profits. This example assumes that there is only one supplier of the unit that is in demand.
If however, the supplier has competitors within the field (and is not bound by law to set a certain rate), they may change the prices to be lower than their competitors, in an effort to increase more demand for the prices. It would artificially drive down prices, thereby making profits less. If competitors are not able to survive with less profit and/or be able to lower their own prices, they would be forced to go out of business, either by closing or selling their shops. In turn, when the original company buys up their competitors assets, they then hold a monopoly or close to a monopoly of the given field. This allows them to artificially change the price on their own discretion, typically known for the term <em>price-gouging</em>. Historically in the United States, this has occurred, especially in the oil industry, but price-gouging of many consumer necessities have been banned and a official rate has been set for them.
Essentially, in a true supply and demand, changing a price to be higher than market value may lead to a lower demand, and therefore a surplus of the product, which leads to a artificial low price, while changing a price to be below market value may generate higher demand, which in turn leads to a artificial high price.
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Answer:
The correct answer is D. The onset of the Great Depression came as a considerable shock to the conventional wisdom of economics at that time and opened the door for critiques of mainstream thought by economists like John Maynard Keynes.
Explanation:
The Great Depression was a recession that followed the Stock Market Crash on October 29, 1929. From the United States, it spread rapidly to Europe and other parts of the world, with devastating effects. International trade fell sharply, as did personal income, tax revenue, prices and profits. This affected cities all over the world, not least those who relied on heavy industry. Construction stopped in several countries, farms and other agricultural areas as the price of their harvests fell by between 40 and 60 percent, and the demand for miners and forestry workers fell sharply while there were few other employment options. The Great Depression ended at different times in different countries; the majority of countries affected set up different aid programs to cope with the crisis.
The Great Depression was not a sudden collapse; the decline came progressively for a period of three years and reached its absolute bottom in March 1933. In early 1930, the credit was large and was available for low prices, but was exploited by few because many households could not take on more debt. Car sales fell below the level of 1928 at the end of May 1930. Wages remained at a stable level until they began to decline in 1931. Circumstances were worst in agricultural areas, where prices of commodities fell, and in the mining and forest industry, where unemployment was high and there were get job opportunities. The downturn in the US industry began the downturn in most other countries; however, internal weaknesses or strengths in the various countries determined how severely affected they were by the crisis.
