Which of the following was an attempt to reform the financial system following the 2007 recession?
a. Dodd-Frank Act
b. Sarbanes-Oxley Act
c. The Buffett Rule
d. Boles-Simpson Plan
a. Dodd-Frank Act
The Dodd-Frank Act was implemented after the 2007 recession in an attempt to reform the financial system.
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If the expected inflation rate changes, the long-run Phillips curve ________, and the short-run Phillips curve ________
A) shifts rightward; shifts upward B) does not shift; shifts upward C) shifts rightward; shifts downward D) shifts rightward; does not shift E) does not shift; does not shift
In a closed economy, if the goods market is in equilibrium, national saving is $2 trillion, national consumption is $7 trillion, and government purchases are $2.5 trillion, then GDP equals
A) $7 trillion. B) $9.5 trillion. C) $11.5 trillion. D) Not enough information has been provided to determine the answer.
Which statement is true?
A. Shutting down is a long run option. B. Going out of business is a short run option. C. Continuing to operate is a short run option.
The Five Forces Model helps illustrate the five competitive forces that determine the ________ in an industry.
A. price and quality of output B. level of competition and profitability C. profitability and degree of product differentiation D. level of R&D and price of output