During the period that many call the Great Recession:
A. GDP fell.
B. unemployment rose.
C. there was a sharp decrease in consumer spending.
D. All of these are true.
D. All of these are true.
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Explain what is meant by perfect price discrimination
What will be an ideal response?
Behavioral economics uses concepts and theories to explain the systematic patterns in how we behave that lead to consistently erroneous decisions. These patterns are called:
A. cognitive dissonance in the field of psychology. B. disruptive biases in the field of anthropology. C. receptive biases in the field of anthropology. D. cognitive biases in the field of psychology.
An example of a lump-sum tax is a(n):
A. income tax. B. property tax. C. sales tax. D. head tax.
Based solely on the graph showing the effective federal funds rate, if you were a borrower with the goal of locking in a thirty-year mortgage with a very low interest rate, which of the following years would have been the best one to take out your loan?
a. 1970
b. 1975
c. 1981
d. 2009