The bursting U.S. housing bubble of 2007 did not trigger an immediate recession, because
A. previous homeowners were able to move into apartments.
B. FEMA provided trailers for use by distressed homeowners.
C. the bubble only existed in relatively few locations.
D. all of the options are correct.
Answer: C
You might also like to view...
Which of the following types of economic data are revised over time as government data collection agencies receive more complete information?
A) interest rates B) employment C) stock prices D) all of the above
In economics, the term that refers to the time, effort, and other resources needed to search out, negotiate, and consummate an exchange is
a. transaction costs. b. specialization costs. c. pecuniary costs. d. comparative costs.
Figure 6.5 illustrates the market for sugar. With free trade, producer surplus in the market would be shown as area:
A. ABC. B. AEF. C. GEQ1. D. FEG.
If consumption increases by $400 when income increases by $500, then the marginal propensity to consume is
A) 900. B) 100. C) 1.20. D) 0.80.