Economists who believe that policy errors are the source of economic instability argue that the crisis of 2008 was primarily the result of
a. housing regulations that undermined sound lending practices and Fed policies that generated the housing boom and bust.
b. the stock market crash.
c. the actions of speculators who drove up the world price of oil, the domestic price of gasoline, and other energy sources.
d. persistently high interest rates during the decade leading up to the crisis.
A
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The transcontinental railroads were completed in the 25 years
A. before the Civil War. B. after the Civil War. C. after 1890. D. after the 20th century began.
An increase in transfer payments would have the same short run effect on the government deficit as an equal
A) increase in government expenditures. B) reduction in taxes. C) increase in taxes. D) Both A and B.
The top 5 percent of health care users in the United States account for
A) 30 percent of all health costs. B) over 50 percent of all health costs. C) over 75 percent of all health costs. D) almost 90 percent of all health costs.
The demand curve in monopolistic competition slopes downward because of:
a. strong barriers to entry. b. product differentiation. c. the small number of firms. d. government regulation. e. the similarities of the businesses.