Amajor cause of the Great Recession was:
a. Moral hazard.
b.Excessive foreign exchange speculation.
c. Contractionary fiscal policies.
d. Lack of incentives for homeowners.
e. None of the above.
.A
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The production possibilities frontier separates ________
A) the goods and services that people want from those that they do not want B) the types of goods that can be attained from those that can't be attained C) the quantities of goods and services that can be produced from those that cannot be produced D) the combinations of goods that people value and those that they don't
Real income is redistributed from ________ in the case of ________ inflation
A) creditors to debtors, anticipated B) creditors to debtors, unanticipated C) debtors to creditors, anticipated D) debtors to creditors, unanticipated
Goods with an income elasticity of demand greater than 1 are called
a. necessities b. inferior goods c. normal goods d. luxuries e. complements
Several writers have helped to popularize the notion that stock prices follow no discernible pattern. What is meant by a random walk, and how can you explain why people continue to invest in stocks if the random walk theory is correct?