What did NOT cause the 2008-2009 recession?
A. Decrease in AD
B. Housing bubble burst
C. Large banks and corporations shut down
D. Improper fiscal policy
E. Stock market and wealth decrease
Ans: D. Improper fiscal policy
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Generally speaking, income inequality is
A) higher in Europe than in the United States. B) higher in the United States than in most of the developing world. C) extremely high and does not vary much between nations in the developing world. D) higher in the developing world than in the developed world.
Because a monopolist is the sole producer in its market, it can necessarily alter the price of its good (i) without affecting the quantity sold. (ii) without affecting its average total cost. (iii) by adjusting the quantity it supplies to the market
a. (ii) only b. (iii) only c. (i) and (ii) only d. (ii) and (iii) only