During the time period of 1981-1983 what dramatic world issue happened?
A) political instability, insecure property rights
B) stock market crashed
C) world wide hyperinflation
D) the collapse of the U.S. mortgages market
E) A world economic recession caused developing countries to not be able to make payments on foreign loans, in turn causing a universal default.
E
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The outputs of an oligopolistic industry
A) can be homogeneous or differentiated. B) must cost above $100 on the market. C) always have excise taxes imposed on them. D) have no substitutes on the market.
A price ceiling is typically imposed on a market because of ___________ and it creates _______
a. a chronic excess demand; an unacceptable price increase b. an unacceptable price increase; chronic excess demand c. an unacceptable price decrease; chronic excess demand d. an unacceptable price decrease; chronic excess supply e. an unacceptable price increase; chronic excess supply