Which of the following was not a lesson from the 2007-2009 financial crisis?
a. Financial regulations were too "light" prior to the crisis.
b. Excessive complexity made the financial system more fragile and dangerous.
c. Both monetary policy and fiscal policy are needed in order for the economy to recover.
d. Regulatory failures were based primarily on poor job performance.
d
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According to the aggregate expenditure model, when faced with unwanted inventory, firms
A) do nothing and wait for equilibrium to be restored. B) are forced to go out of business. C) immediately cut prices. D) decrease production. E) increase production.
With perfect price discrimination ________, and production is expanded until marginal revenue equals ________
A) the firm's demand curve becomes its marginal revenue curve; marginal cost B) the firm's demand curve becomes its marginal revenue curve; average total cost C) the firm's marginal revenue curve bisects the angle with which demand intersects the price-axis; marginal cost D) the firm's marginal revenue curve bisects the angle with which demand intersects the price-axis; average total cost E) economic profit is maximized when the lowest price equals marginal cost; average total cost.
Refer to Table 9-10. Suppose an economy has only three goods and the typical family purchases the amounts given in the table above. If 2011 is the base year, then what is the CPI for 2016?
A) 14.3 B) 87.5 C) 114.3 D) 160
One example of Ricardian rent is:
a. rent paid to landlords under price controls. b. the difference between the price of a highly demanded unique piece of artwork and the opportunity cost of maintaining it. c. the amount paid to a seller above the equilibrium price of tourist class tickets in order to receive higher quality seats in first class. d. the price rise of wool from a disease among sheep.