Monetarists claim that the financial crisis and resulting 2007-2009 recession were caused largely by:
A. monetary policy that was too loose for too long.
B. monetary policy that was too tight for too long.
C. unexpected changes in the velocity of money.
D. declines in business and consumer confidence.
A. monetary policy that was too loose for too long.
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A bond has a face value of $1,000, a price of $1,200, and coupon payments of $100 for two years. The "current yield" of this bond is
A) 8.33%. B) 10%. C) 12%. D) 83%. E) none of the above
Monopolies, whose market position is based on exclusive access to resources, eventually lose their monopoly power when there is
a. increasing brand loyalty on the part of consumers b. an expiration in their patents c. a development of new technologies d. exclusive access to resources e. a negative cross elasticity with other goods in the market