Consumer surplus is the difference between the minimum amount a person would be willing to pay for a good and the amount the person actually paid

Which of the following is NOT a reason for the weak recovery following the 2007-2009 recession?

A) Recessions started by financial crises are almost always severe. B) The decline in the automobile industry appeared to be structural. C) The collapse of the housing market was long lived. D) The recession was caused by a decline in short-run aggregate supply.

"When economies experience high levels of inflation, the ability of money to act as a unit of account diminishes, and it becomes harder to make decisions." Which of the following costs of inflation does this statement describe?

a. Menu costs b. Shoe-leather costs c. Unit-of-account costs d. Time costs