The financial crisis of 2007-2009 was primarily the result of
A. excessive tax rates.
B. the bursting of the housing market bubble.
C. inflation fighting by the Federal Reserve.
D. the bursting of the stock market bubble.
Answer: B
You might also like to view...
Overproduction compared to the efficient amount implies that for the last unit produced
A) marginal social benefit exceeds marginal social cost. B) marginal social benefit equals marginal social cost. C) marginal social cost exceeds marginal social benefit. D) the deadweight loss is zero.
The marginal cost of serving an additional user of a public good is zero.
Answer the following statement true (T) or false (F)
Why does the AVC reach its minimum before the ATC reaches its minimum?
What will be an ideal response?
Why does economic theory predict that a perfectly competitive firm will produce at the point where price equals marginal cost?
a. This point provides an efficient allocation of society's resources. b. This point results in zero economic profit. c. This point maximizes profit for the firm. d. This point will minimize ATC for the firm.