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23 February, 07:54

Economist Peter Temin of MIT argues that, open double quote"Ifthe crash of 1929 was an important independent shock to the economy, then the crash of 1987 should have been equallydisastrous. close double quote

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  1. 23 February, 11:23
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    Options:

    A. Inflation.

    B. An increase in the Federal Funds rate.

    C. The breakout of war in the Europe.

    D. A stock market crash

    Answer:C. The breakout of war in the Europe.

    Explanation:Peter temin is an world renowned Economic historian and a professor emeritus of Gray University. He is a has published many books in the field of economic, with his works being cited in different field of study related to economics.

    Peter Temin made several conclusions in the field of economics but two conclusion are mostly cited by people

    (1) The Relationship of labor scarcity to economic development.

    (2) The Role of general equilibrium models in studying economic history.

    According to Peter Temin the breakout of war in the Europe will be considered as an "important independent shock to an economy".
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