After the housing market bust in the mid-2000s, ________, leading to the economic slowdown that became known as the Great Recession.
A. many households borrowed more than they could afford to pay back
B. the Federal Reserve began to aggressively fight inflation
C. it became harder for households and business to borrow
D. many banks lent more money than they should have
Answer: C
You might also like to view...
The main center of the Eurodollar market is
A) London. B) Basel. C) Paris. D) New York.
The "Robin Hood" tax policy, which taxes the rich to give to the poor, is best described by economists as:
a. a proportional tax policy. b. a regressive tax policy. c. a poll tax policy. d. a progressive tax policy. e. a capital tax policy.
Acceptance of the euro by the member state implies:
a. Common monetary policy b. Common fiscal policy c. Common foreign policy d. Common labor policy
What is the shape of the modern short-run aggregate supply (SRAS) curve? Why?
What will be an ideal response?