The so-called Great Recession in the U.S.:
A.
Is another name for the Great Depression
B.
Was the worst economic downturn since the Great Depression
C.
Was triggered by oil-supply shocks
D.
Was caused by a sharp increase in the value of the U.S. dollar
B.
Was the worst economic downturn since the Great Depression
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Refer to Figure 10-6. Which diagram demonstrates a decrease in total utility following an increase in the price of candy?
A) the movement from e to d in Panel A B) the movement from g to f in Panel B C) the movement from k to h in Panel C D) none of the above
Suppose policy makers pass a budget that reduces the budget deficit. A deficit reduction package such as this has a greater chance of increasing current output when
A) the policy is front-loaded. B) financial markets believe that taxes will not increase in the future. C) financial markets believe the Fed will lower interest rates in the future. D) all of the above E) none of the above