During the Great Recession of 2007-2009, the U.S. ________
A) experienced unprecedented declines in household wealth
B) the unemployment rate more than doubled
C) experienced the most severe economic downturn since the Great Depression
D) all of the above
E) none of the above
Answer: D) all of the above
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A self-managed team is still headed by a boss
Indicate whether the statement is true or false
Suppose that a worker in Country A can make either 10 iPods or 5 tablets each year. Country A has 100 workers. Suppose a worker in Country B can make either 2 iPods or 10 tablets each year. Country B has 200 workers. A bundle of goods that Country A could not make would be:
A. (500 iPods, 150 tablets). B. (500 iPods, 200 tablets). C. (500 iPods, 300 tablets). D. (500 iPods, 250 tablets).
General equilibrium analysis is the study of
A) how an equilibrium is determined in all markets simultaneously. B) how an equilibrium is determined in all closely related markets. C) the effects of a change in a market, and all spillover effects in all related markets. D) Any of the above.
What is a primary market?
A) a market where primary inputs like steel are sold B) a market where you can sell any bonds you own as a private investor C) a market where newly issued claims are sold to initial buyers by the borrowing firm D) a market where you can sell any stocks you own as a private investor