In the financial crisis of 2008, which of the following were not among the consequences of high leverage in the banking industry?
a. Less investment was undertaken than would otherwise have been the case
b. Less consumption spending took place than would otherwise have been the case.
c. Unemployment was lower than it would otherwise have been.
d. Real GDP was lower than it otherwise would have been
c
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Which of the following is the best example of a firm operating in a monopolistically competitive market?
a. A Kansas wheat farmer. b. TGI Fridays, a family restaurant. c. U.S. Postal Service. d. Boeing, an aircraft manufacturer
The Green Chemistry Program
a. calls for participants in the product cycle to reduce life cycle environmental effects of products b. is synonymous with product stewardship c. involves only participants from the scientific community d. involves partnerships with many sectors, including academia, industry, research centers, and others
The "tragedy of the commons" refers to
a) farmers who allow their livestock to overgraze their fields b) the acceptance of deplorable working conditions by those who lack the human capital to obtain a better job c) the absence of incentives to prevent the overuse and depletion of a commonly used resource d) the tendency for bureaucrats to maximize their budget
If a person works 10 percent fewer hours after being given a raise of 20 percent, the individual's elasticity of labor supply is:
A. 2. B. .5. C. ?.5. D. ?2.