The Great Recession began in ________ and ended in ________.
A. October 2008; December 2011
B. October 2008; June 2009
C. December 2007; June 2009
D. December 2007; December 2011
Answer: C
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Refer to Table 20.1. George is a single taxpayer with an income of $65,000. If George had received a raise of $3,500 at the beginning of the year, his marginal tax rate would be
A) 22.99%. B) 23.75%. C) 38%. D) 95%.
Total surplus in a market is equal to
a. consumer surplus + producer surplus. b. value to buyers - amount paid by buyers. c. amount received by sellers - costs of sellers. d. producer surplus - consumer surplus.
A particular brand of shampoo costs 6 Canadian dollars in Toronto. The nominal exchange rate is about 1.2 and the real exchange rate is .90 . These numbers imply that the U.S. dollar price of the same shampoo is about
a. $7.99 b. $6.49 c. $5.39 d. $4.49
In general, any ceteris paribus determinant of supply that is favorable to production will
A. shift the supply curve to the left. B. shift the demand curve to the left. C. cause a movement along the supply curve. D. shift the supply curve to the right.