What contributed to the United States recession of 2007-2009?
a. High Federal budget deficit
b. Deflation in commodity prices and reduction in consumer saving
c. Bank failure, panic among investors, and lack of confidence in paper currency
d. Stock market collapse, drop in real estate values, and a drop in consumer spending
d
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Price leadership:
A) has rarely occurred in U.S. history. B) is always illegal in the United States. C) is usually the result of a dominant firm in the industry. D) usually results in the smaller firms in the industry incurring economic losses.
Though he has retired as a professional football receiver, Jerry Rice still earns a sizeable annual income from endorsements. His economic rent is so high because
A. football fans tend to spend a substantial amount of money on sports memorabilia. B. there is still a high demand for his star appeal. C. he is a successful coach in the National Football League. D. people do not like NFL players.