The Great Recession began in ________ and ended in ________
A) December 2007; June 2009
B) December 2007; December 2011
C) October 2008; June 2009
D) October 2008; December 2011
A
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Some pollution may be preferable to zero pollution because
A. attempting to decrease the level of pollution to zero may cause significant losses in society's welfare. B. we really do not have that much pollution. C. the nation's citizens are against government's involvement in solving the pollution problem. D. no form of regulation that has been shown to be effective at solving the pollution problem.
The U.S. Congress passed a stimulus bill in February 2009 to help remove the economy from a recessionary gap. This is an example of the use of
A) expansionary monetary policy. B) contractionary monetary policy. C) contractionary fiscal policy. D) expansionary fiscal policy.
If the supply of a good is inelastic, _____.
(A) Producers have diminishing marginal returns of labor. (B) A small increase in price will lead producers to sharply increase their quantity supplied. (C) Producers will increase their quantity supplied in response to sharp drops in the market price. (D) Producers will not change their quantity supplied by much even if the market price doubles.
Which of the following is correct?
A) real interest rate = nominal interest rate - anticipated inflation rate B) real interest rate = nominal interest rate + anticipated inflation rate C) real interest rate = nominal interest rate anticipated inflation rate D) real interest rate = nominal interest rate / anticipated inflation rate