The economic hardship resulting from a financial crises is severe, however, there are also social consequences such as
A) increased crime.
B) difficulty getting a loan.
C) currency devaluations.
D) loss of output.
A
Economics
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Assume equilibrium real GDP per year is equal to full-employment real GDP. Which of the following will cause a recessionary gap?
A) a discovery of a new raw material B) a reduction in aggregate demand C) a temporary reduction in the price of oil D) an increase in aggregate demand
Economics
Which of the following describe the United States economy in 2008 and and the start of 2009?
A) Real GDP reached a peak. B) The economy was in a recession. C) The economy was in an expansion. D) Real GDP per person increased. E) None of the above answers is correct.
Economics