The _______________________ (TARP) is an example of a government program created to help stabilize the financial sector during the financial crisis of 2007-2009
A) Times Are Really Problematic
B) Tarnished Assets Recovery Program
C) Troubled Assessments Recovery Program
D) Troubled Assets Relief Program
D
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The components of aggregate expenditure that change when real GDP changes are known as
A) unplanned expenditure. B) induced expenditure. C) autonomous expenditure. D) changeable expenditure. E) planned expenditure.
The law of one price states that identical products should sell for the same price everywhere as long as transactions costs are zero
Indicate whether the statement is true or false
The price elasticity of demand is
a. irrelevant to the determination of prices, incomes, and interest rates b. indeterminate in most cases c. the percentage change in price divided by the percentage change in quantity demanded d. the percentage change in price with respect to the percentage change in quantity supplied e. the percentage change in quantity demanded divided by the percentage change in price
Market failure can occur when
A. monopoly power exists in the market. B. markets are missing. C. consumers can influence prices. D. all of these answer options are correct.