Multiple Choice
Each of the following is a possible shock that triggered the Great Depression except
A) the stock market crash of 1929.
B) an increase in imports caused by a sharp increase in the marginal propensity to import.
C) a downward shift in the baseline level of consumption spending caused by reduced wealth and greater uncertainty.
D) a downward shift in the baseline level of investment spending caused by a decrease in investment in residential housing.
Correct Answer:
Verified
Correct Answer:
Verified
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