With respect to financial markets, how were the late 1990s like the early part of the 2000s?
A. During both periods, the housing market experienced wild ups and downs.
B. A stock market bubble burst during both periods.
C. In both periods, there were bubbles in important markets.
D. These two periods are not alike in any way relative to financial markets.
Answer: C
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The investment required to maintain steady state growth
A) is impossible to achieve since capital for new workers requires continuous increases in s, the per capita savings ratio. B) must equip new workers with capital equal to that employed by existing workers. C) must replace "worn out" capital. D) B and C.
List the three coordination decisions made by every economy.
A. Where? When? How? B. How? What? To whom? C. Why? Where? What? D. When? To Whom? Where?
Taxation may improve the social welfare when the taxed good
a. is socially undesirable (like, in some views, liquor and pornography). b. imposes negative externalities. c. is overproduced under a free-market system. d. All of the above are correct.
Margin suggests additional or incremental.
a. true b. false