All of the following factors came together in 2007-09 to cause a sharp drop in consumer spending EXCEPT
A) asset pyramid.
B) the end of the housing price bubble.
C) stock market crash.
D) increase in household liabilities.
A
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Approximately what percentage of the world population experiences scarcity?
A) 33% B) 50% C) 66% D) 100%
If prices rise in Japan, everything else constant, the dollar __________ against the yen and the yen __________ against the dollar
A) appreciates; appreciates B) appreciates; depreciates C) depreciates; appreciates D) depreciates; depreciates
The deadweight loss equals the consumer surplus minus the producer surplus resulting from a non-equilibrium price
a. True b. False Indicate whether the statement is true or false
When the price level rises in the United States, there is increased demand for loanable funds, ceteris paribus. Which concept is exemplified?
a. foreign trade effect b. transfer payment effect c. wealth effect d. interest rate effect