Some call the Great Recession the:
A. period when the economy does not grow for four consecutive quarters.
B. recession that began in 2007 due to the decline in consumer spending when the housing bubble burst.
C. period of high inflation that took place in the early 1970s.
D. period of economic stagnation that took place in the early 1990s.
B. recession that began in 2007 due to the decline in consumer spending when the housing bubble burst.
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When the Chairman of the Board of Governors explains in a television interview that the Fed hopes banks show more restraint in providing consumer credit because inflation is a problem, he is attempting to use
a. indirect theory instead of direct policy b. reason over passion in money matters c. selective media information d. moral suasion e. the paradox of thrift
The monetary base is the sum of:
A. currency in the hands of the public, reserves and M1. B. currency in the hands of the public and reserves in the banking system. C. M1 and reserves. D. reserves and M2.
Barter is the:
A. direct exchange of goods and services. B. exchange of goods, but not services. C. system that does not depend on a coincidence of wants. D. system used in advanced economies.
What is moral hazard?
Fill in the blank(s) with the appropriate word(s).