Which of the following contributed to the financial crisis of 2008?
a. the housing price boom (2002-2005), followed by a housing price bust (2007-2008)
b. a sharp reduction in stock prices in 2008
c. a sharp increase in the price of crude oil from January 2007 to mid-year 2008
d. all of the above
D
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The exchange rate system followed by the United States is known as
A) the gold standard. B) a fixed exchange rate system. C) a flexible exchange rate system. D) a barter system.
Explain how productivity growth has led to labor market realignment in the United States
When the Fed wants to expand the money supply, it
A. buys government securities. B. sells government securities. C. buys common stock. D. sells common stock.
The recession of 2007–2009 was the most severe economic downturn in the United States since the
A. 1930s. B. 1950s. C. 1970s. D. 1980s.