The recession that began in the United States in 2007
What will be an ideal response?
was the most severe and long-lasting since the Great Depression of the 1930s. Even after the economy started to recover, growth was slow and job creation weak, with unemployment remaining over 7 percent through 2013.
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Joe likes peanut butter and jelly sandwiches for lunch. We can conclude that for Joe the cross elasticity of demand for peanut butter with respect to jelly is
A) positive because jelly and peanut butter are substitutes. B) positive because jelly and peanut butter are complements. C) negative because jelly and peanut butter are substitutes. D) negative because jelly and peanut butter are complements.
The debt-ratio is the ratio of the debt to
A) government spending. B) saving. C) taxes. D) personal disposable income. E) GDP.