Podcast
Questions and Answers
What event is known as Black Thursday in American history?
What event is known as Black Thursday in American history?
- The emergence of new wheat-producing centres
- The stock market crash on October 24, 1929 (correct)
- The collapse of the classical economic approach
- The failure of major financial institutions
What led to the drop in agricultural prices during the Great Depression?
What led to the drop in agricultural prices during the Great Depression?
- Increase in employment levels
- Failure of major financial institutions
- Stocks of finished goods piling up
- Overabundance of food grains in the market (correct)
Which country experienced a rise in unemployment from 3% to 25% during the Great Depression?
Which country experienced a rise in unemployment from 3% to 25% during the Great Depression?
- Ireland
- Australia
- United States (correct)
- Canada
What is one key characteristic of a capitalist economy?
What is one key characteristic of a capitalist economy?
Which economic structure is also known as a free-market economy?
Which economic structure is also known as a free-market economy?
What is the role of the government in a capitalist economy?
What is the role of the government in a capitalist economy?
What is the meaning of the term 'macro' in macroeconomics?
What is the meaning of the term 'macro' in macroeconomics?
When did macroeconomics emerge as a branch of economics?
When did macroeconomics emerge as a branch of economics?
What is an aggregate in economics?
What is an aggregate in economics?
Which event is widely considered as the worst and longest economic downturn in modern history?
Which event is widely considered as the worst and longest economic downturn in modern history?
What types of entities are referred to as economic agents?
What types of entities are referred to as economic agents?
What event is said to have marked the beginning of the Great Depression?
What event is said to have marked the beginning of the Great Depression?
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