If the stock market crashes, then the economy will go into a recession.
Answer the following statement true (T) or false (F)
False
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If the graph shown is displaying a competitive labor market:
A. D would represent the workers' demand for jobs at each wage. B. Q* would represent the equilibrium wage. C. P* would represent how many people are employed in the market. D. Q* would represent the equilibrium number of workers in the market.
Distinguish between real rate of interest and nominal rate of interest
If the marginal propensity to consume (MPC) is 0.96, the value of the spending multiplier is:
A. 25. B. 40. C. 96. D. 100.
If the dollar/pound exchange rate is $2/£, a Big Mac costs $5 in New York City and costs £4 in London, the pound is ________, and U.S. tourists will be ________
A) overvalued; better off in London B) overvalued; better off in New York C) undervalued; better off in London D) undervalued; better off in New York