Which of the following is not generally considered one of the three main causes of the financial crisis of 2007-2009?
A) insufficient regulation of the shadow banking system
B) excessive risk taking by commercial banks and other financial intermediaries
C) the "too-big-to-fail problem" of large financial firms
D) inaction by the Federal Reserve in acting as lender of last resort
D
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The free rider problem occurs because:
a. it is easy to exclude others from consuming a good. b. consumption is rivalrous, so the consumption of a product by one individual diminishes the amount available for others. c. exclusion is costly or impossible, so a consumer or producer can use a good without having to pay for it. d. external costs are imposed on others not directly involved in the transaction. e. individuals are not required to pay for those goods which do not yield any utility to them.
If it takes more dollars to acquire one unit of a foreign currency,
A) the quantity of U.S. good that the foreign country will by will decrease B) the foreign currency has depreciated. C) the dollar has depreciated. D) the dollar has appreciated.
Interventionist economists
a. often advocate less interference in the private sector b. believe the economy should be left alone c. rely exclusively on peoples' expectations of future growth to bring the economy to long-run equilibrium d. advocate that government and the Fed correct what they believe ails the economy e. believe that the Federal Reserve should either remain independent or be eliminated
A group of firms working together and acting as a supplier of a product is called a cartel. A group of employees working together and acting as a single supplier of labor is called a