Milton Friedman Attributed the Great Depression Primarily to

question 18

Multiple Choice

Milton Friedman attributed the Great Depression primarily to

• A)the government's failure to respond to an increase in the budget deficit.
• B)a reduction in the money supply.
• C)economists' and policy-makers' failure to acknowledge their limited knowledge.
• D)the failure of wages to rise.
• E) inaccurate expectations by consumers and firms.

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Definitions:

Revenues

Revenue earned by a company primarily through its sales of products and services to buyers, as part of its regular operations.

Owner's Equity

Owner's Equity refers to the owner's rights to the assets of the company after all liabilities have been deducted. It is also known as shareholders' equity or stockholders' equity.

Investments

Investments refer to assets or items acquired with the intention of generating income or appreciating in the future.

Trial Balance Totals

The cumulative sum of all debits and credits in a trial balance, which should equal to ensure the ledger is balanced.