Based on the graph showing the effective federal funds rate, the rates in the early 2000s were ______.
a. the lowest in over 40 years
b. the highest in over 40 years
c. about the average for the past 40 years
d. the only negative rates in over 40 years
a. the lowest in over 40 years
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The failure of a major financial company is often a trigger for a financial crisis. The main reason for trouble at a single firm to become a crisis for the entire economy is that ________
A) the central bank will suspend operations until the failed firm is restructured B) it is unclear whether the firm's collapse will remain an isolated event C) customers of the failed company will organize a boycott to protest their losses D) employees and owners of the failed company reduce their spending, with adverse effects on other businesses
Stagflation is the combination of
a. falling output and a falling price level b. falling output and rising unemployment c. falling output and a rising price level d. falling output and falling unemployment e. rising unemployment and a falling price level
Among the people who are characterized below, who has the highest opportunity cost of leisure?
a. a veterinarian who earns $25 per hour and who goes surfing during her leisure time b. a professional tennis player who earns $50 per hour giving tennis lessons and who watches TV during his leisure time c. a retail clerk who earns $15 per hour and who plays computer games during his leisure time d. a CPA who earns $150 per hour and who golfs during her leisure time
Most businesses in the world start as
a. sole proprietorships b. general and limited partnerships c. subchapter S corporations d. C corporations e. limited liability corporations or partnerships