During the financial crisis of 2007-2009 which of the following countries experienced a decline in real GDP roughly twice that of the United States?
A. United Kingdom
B. Canada
C. Turkey
D. Japan
Answer: D
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A cartel is a group of firms
A) acting separately to limit output, lower price, and decrease economic profit. B) acting together to limit output, raise price, and increase economic profit. C) legally fixing prices. D) acting together to erect barriers to entry. E) that compete primarily with each other rather than the other firms in the market.
Counting only qualified and part-time workers as employed tends to understate the actual amount of unemployment
Indicate whether the statement is true or false
New residential housing is placed under consumer expenditures in aggregate demand.
Answer the following statement true (T) or false (F)
Which of the following is a welfare program?
A. Food stamps. B. Medicare. C. Disaster relief. D. Social Security.