Answer:
In what ways was the economic prosperity of the 1920s genuine, and in what ways did this prosperity disguise serious economic problems?
Do you think most people perceived the underlying problems in the economy? Why or why not?
Explanation:
The factors which contributed to the counterfeit prosperity of the 1920s were the abundant availability of consumer goods; farmers bought plenty of land and farm equipment and produced a large amount of goods for market; the availability of credits and the stock market performance led the people to obtain higher standards of living and leisure time; President Herbert Hoover and other politicians declared that the economy was doing extremely well.
But people realized a dramatic change in the economy, when it went from this apparent prosperity to a severe depression between 1929 and 1932, with the stock market-black tuesday in Oct., 29, 1929, when the farmers-demand for food goes down after WWI, prices went down, farmers over produced, could not pay back loans and land was lost
; loans not paid back caused banks failed, people began spending less on consumer goods and personal income and debt-income gap between rich and poor increased.
Answer:
a.is greater along curve I
Explanation:
The production probability frontier also known as PPF is a graph that shows the different combinations of two goods that can be generated by utilizing the available resources that the two goods require for their production. Based on the statement in the question, the opportunity cost of manufacturing the good located on the y-axis will be higher along curve I.
Answer:
raises
rises
rises
increase
higher
decrease
rise
away from bread and toward cereal
rises
Explanation:
Complementary goods are goods that are consumed together
If the price of chowder falls, the quantity demanded of chowder increases in law with the law of demand.
According to the law of demand, the higher the price, the lower the quantity demanded and the lower the price, the higher the quantity demanded.
If the quantity demanded of chowder increases, the demand for oyster increases also.
Due to the increase in the demand for oysters, suppliers would want to increase their supply of oysters. This would lead to an increased demand for inputs of which wheat flour is one of them. So, the quantity demanded of wheat would increase.
The increase in demand for flour would shift the demand curve for flour to the right and this would lead to a rise in price of flour.
The increase in price of flour would increase the cost of making bread. As a result, the supply of bread would fall. the fall in supply would lead to a rise in price of bread. As a result of the rise in price of bread, the demand for a substitute (cereal) would increase
Substitute goods are goods that can be used in place of another good.
Answer:
Denominator
Lower
Numerator
Explanation:
The reason is that the statement is talking about the low per capita GDP which we can see in the picture attached with this answer.
We can see that if the denominator is lower which means that either population decreases or remains constant when the GDP has increased then the the growth in the per capita GDP will be higher because minute increases in the GDP will increase the answer with significant percentages.
Answer:
$4
$1
$3
False
Explanation:
Tax on a case of beer = amount consumers pay after the tax has been levied - amount producers receive = $7 - $3 = $4
Burden of tax on consumers = amount consumers pay after the tax has been levied - amount consumers pay before tax was levied = $7 - $6 = $1
Burden of tax on producers = Tax charged - Burden of tax on consumers = $4 - $1 = $3