One difference between the Great Recession and the Great Depression is that a) there was significant deflation (decrease in the price level) during the Great Depression and not during the Great Recession. O b) unemployment was far higher during the Great Recession. Oo the U.S. government reduced the money supply during the Great Recession but raised it during the Great Depression. O d) very few banks failed during the Great Depression, but many failed during the Great Recession. O e) real GDP fell by a larger percentage during the Great Recession.
One difference between the Great Recession and the Great Depression is that a) there was significant deflation (decrease in the price level) during the Great Depression and not during the Great Recession. O b) unemployment was far higher during the Great Recession. Oo the U.S. government reduced the money supply during the Great Recession but raised it during the Great Depression. O d) very few banks failed during the Great Depression, but many failed during the Great Recession. O e) real GDP fell by a larger percentage during the Great Recession.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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