A Depression Occurs When

question 77

Multiple Choice

A depression occurs when:

• A) both output and employment increase.
• B) the economic downturn becomes extremely deep and prolonged.
• C) both price level and unemployment increase.
• D) output rises but employment remains unchanged.

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Definitions:

Henry of Navarre

King Henry IV of France, known for his role in ending the French Wars of Religion through the Edict of Nantes.

Henry III

King of England from 1216 until his death in 1272, known for his long reign, conflicts with nobility, and role in the development of parliament.

Huguenot Bourbon

Refers to members of the Bourbon dynasty who were Huguenots, French Protestants, in a predominantly Catholic France, highlighting the religious complexities within the royal family.

Edict of Nantes

A 1598 decree issued by Henry IV of France, granting substantial religious and civil rights to the Huguenots (French Protestants).