Which of the following statements about the financial crisis that began in 2008 is true?
A) It was a great illustration of how interdependent national economies are.
B) Most economists agree that it originated in China.
C) It only lasted 3 weeks.
D) It only affected housing markets.
A
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If sanctions are imposed on buyers but NOT on sellers of an illegal good, then the equilibrium price ________ and the equilibrium quantity ________
A) rises; increases B) rises; decreases C) falls; increases D) falls; decreases
Refer to Figure 2-4. Consider the following events:
a. an increase in the patent protection period to 75 years b. a hurricane that destroys a substantial portion of a nation's capital stock c. the implementation of a secure and enforceable property rights system Which of the events listed above could cause a movement from W to Z? A) a, b, and c B) a only C) a and c only D) a and b only E) b and c only