In the United States in 2014 real GDP per person was about $56,000, while in some poor countries real GDP per person was less than $5,000

The 2007 subprime crisis spread easily because

A) the United States is an important economy. B) banks in other countries had purchased assets that depended on the U.S. housing market. C) there was speculation against the U.S. dollar. D) the Fed failed to act at the right time.

Which of the following might cause the demand curve for an inferior good to shift to the left?

a. a decrease in income b. an increase in the price of a substitute c. an increase in the price of a complement d. None of the above is correct.