The economic boom of the 1990s:
a. ended with a recession that lasted from early 2000 to the 2nd quarter of 2002.
b. ended with the financial crash of 2001, with unemployment reaching 7.5%.
c. ended with the stock market and real investment tumbling, and unemployment near 9%
d. Both a and b are correct.
e. None of the above are correct.
e. None of the above are correct.
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If property rights are not clearly defined and enforced, then
A) incentives for specialization based on comparative advantage are weakened. B) some potential gains from specialization and trade are lost. C) resources are devoted to protecting possessions rather than to production. D) All of the above answers are correct.
In 2014, the average inflation rate in the OECD countries was
A) 1.7%. B) 2.3%. C) 5.2%. D) 3.8%. E) 10.5%.