Which of the following was a lesson from the 2007-2009 financial crisis?
a. The financial system needed more leverage in order to operate.
b. The job of stabilizing the economy should be assigned exclusively to monetary policy.
c. Monetary policy is finished once the Fed reduces the federal funds rate to zero.
d. The business cycle still exists.
d
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Economic growth is usually defined as
A) the increase in output over time, as measured by real per capita Gross Domestic Product (GDP). B) the reduction in the real cost of necessities. C) the rate of increase in output divided by the increase in labor. D) the increase in input availability.
An essential characteristic of credit unions is that
A) they are typically large. B) branching across state lines is prohibited. C) their lending is primarily for mortgage loans. D) they are organized for individuals with a common bond.