The recession of 2007-2009 began in ________, with the end of the economic expansion that had begun in ________
A) January 2007; April 1984
B) December 2007; November 2001
C) July 2007; August 2006
D) March 2007; March 1995
Answer: B
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With the federal funds rate near zero and the economy still struggling, In response to already low interest rates doing little to stimulate the economy, the Fed began buying 10-year Treasury notes and certain mortgage-backed securities to keep
interest rates low. This policy is known as A) quantitative easing. B) securities-bubble deflating. C) contractionary monetary policy. D) inflation targeting.
A state of consumer equilibrium for two goods consumed exists when the:
a. marginal utility of all goods is the same for the last dollar spent on each good. b. marginal utility per dollar's worth of two goods is the same for the last dollar spent on each good. c. price of two goods is the same for the last dollar spent on each good. d. marginal cost per dollar spent on two goods is the same.
In contrast to the typical Republican Party laissez-faire policies, President Richard Nixon in 1971 introduced
A. mandatory drug testing of cabinet officers. B. monetary targets for the Federal Reserve Board. C. wage and price controls. D. mandatory gold purchases by the U.S. Treasury.
Income tax collections:
A. fall during periods of prosperity, thus increase federal budget deficits. B. rise during periods of prosperity, thus reduce federal budget deficits. C. fall during recessions, thus increase the problem of unemployment. D. rise during recessions, thus increase the problem of unemployment.