The 2007-2009 recession began with reductions in investment and consumption spending, precipitated by a financial crisis. This explanation for the recession is consistent with:
A. the monetarist view of macroeconomic instability.
B. the rational expectations view of macroeconomic instability.
C. the mainstream view of macroeconomic instability.
D. none of these views of macroeconomic instability.
C. the mainstream view of macroeconomic instability.
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Samantha is at a friend's house for dinner. Her friend says "I can re-heat either the lasagna or the fried rice." Samantha likes them both, but chooses the fried rice. Does Samantha's choice entail a cost?
A) No—as long as her friend didn't charge Samantha for the meal. B) Yes—Samantha sacrificed the opportunity to eat lasagna. C) Yes—as long as Samantha reimburses her friend for the cost of re-heating the meal. D) Both A and C above.
Which of the following classifications is correct?
A. City streets are consumption goods because they wear out with use. B. Stocks are capital goods because when people buy and sell them they make a profit. C. The coffee maker in the coffee shop at an airport is a consumption good because people buy the coffee it produces. D. White House security is a government service because it is paid for by the government..
Which of the following is a public good?
a. Air traffic control. b. National defense. c. Clean air. d. All of these.
What is one argument made by proponents of in-kind transfers over cash payments to the needy?