Which of the following is not generally considered one of the three main causes of the financial crisis of 2007-2009?
A) insufficient regulation of the shadow banking system
B) excessive risk taking by commercial banks and other financial intermediaries
C) the "too-big-to-fail problem" of large financial firms
D) inaction by the Federal Reserve in acting as lender of last resort
D
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When a demand schedule is drawn as a graph,
a. price is measured on the vertical axis. b. quantity is measured on the horizontal axis. c. the resulting curve has a negative slope. d. the other variables (besides price and quantity) are held constant. e. All of the above are correct.
Economists generally agree that
a. human capital theory provides the best explanation of discriminatory practices. b. differences in average wages do not by themselves provide conclusive evidence about the magnitude of discrimination in labor markets. c. discrimination is exclusively an economic, rather than political, phenomenon. d. most of the wage differentials observed in the U.S. economy are due to discrimination.