A major cause of the Great Recession was:
a. A severe increase is U.S. banking regulations that prohibited or stalled the free market.
b.Excessive foreign exchange speculation.
c. Contractionary fiscal policies.
d. Excessive money creation by the Federal Reserve immediately before and during the downturn.
e. A shift from an "originate-to-hold" to an "originate-to-distribute" mortgage origination strategy.
.E
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During a recession,
A) real GDP is less than potential GDP. B) real GDP is equal to potential GDP. C) the actual unemployment rate is less than the natural unemployment rate. D) real GDP is greater than potential GDP. E) the relationship between real GDP and potential GDP no longer exists.
If a country operates on its PPF, it achieves production efficiency
Indicate whether the statement is true or false
A cartel is a group of sellers of a single product who have joined together in order to enjoy the advantages of perfect competition
a. True b. False Indicate whether the statement is true or false
Short-run decisions are:
A. constrained because some inputs are fixed and others are variable. B. constrained because all inputs are fixed. C. unconstrained because all inputs are variable. D. constrained because all inputs are variable.