The deleveraging of financial institutions led to the financial crisis of 2007-2008 sometimes also referred to as the _____
a. stock crisis
b. debt crisis
c. stock market bubble
d. bank run
e. credit crisis
e
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A common explanation for the behavior of the short-run U.S. Phillips curve in 2009 and 2010 is that, over the previous 20 or so years, the Federal Reserve had
a. established a lot of credibility in its commitment to keep inflation at about 2 percent. b. established a lot of credibility in its commitment to keep inflation at about 5 percent. c. failed to establish significant credibility in its announced intent to keep inflation at about 2 percent. d. failed to establish significant credibility in its announced intent to keep inflation at about 5 percent.
Incentives are
A) potential rewards available if a particular activity is undertaken. B) ineffective as a device to get people to behave in a certain fashion. C) inappropriate ways to obtain a certain kind of behavior. D) useless when people behave rationally.