Which of the following is a macroeconomic factor that contributed to the financial crisis in 2007?
A) Global saving and investment imbalances
B) Financial market innovation
C) Deeper levels of integration across financial markets
D) Challenges and failures in financial regulation
A
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If a price ceiling is introduced in the market for milk below the market equilibrium price, then the producer surplus made by dairy farmers
A) will increase. B) will decrease. C) will not change. D) might increase or decrease depending on whether the demand for milk increases or decreases. E) might increase or decrease depending on whether the supply of milk decreases or increases.
If the demand curve is perfectly inelastic, _____
a. suppliers will bear the entire burden of any tax b. demanders will bear the entire burden of any tax c. suppliers and demanders will split the burden of any tax d. the actual burden of the tax depends upon who is legally required to pay the tax