The bursting of the stock market bubble was one of the contributing factors to the 2008 crisis.
Answer the following statement true (T) or false (F)
True
In 2007 it was the derivatives market (mortgage backed securities) that crashed, and this crash was tied directly to the downturn in the housing market. The financial market then faltered, which pushed the economy into a deep recession.
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The demographic bulge that is at the heart of Social Security's long-term problems is attributable to a baby boom that occurred
A. after World War II. B. after World War I. C. in the 1980s. D. in the 1960s.
In general, the price elasticity of demand for milk will be less than that for Apple's iPod
Indicate whether the statement is true or false
Falling growth rates during the 2007-2009 recession occurred:
A. only in the United States. B. in the United States and Canada, but not in Germany, the United Kingdom, or Japan. C. only in the high-tech sectors of the U.S. economy. D. in the United States, Canada, Germany, the United Kingdom, and Japan.
Although specialization of labor increases efficiency of production, another step is necessary
A. to exchange goods among producers. B. to remain fully employed. C. to a reallocation of natural resources. D. to assure that exchange leads to mutual gains. E. All of the responses are correct.