All of the following factors came together in 2007-09 to cause a sharp drop in consumer spending EXCEPT
A) asset pyramid.
B) the end of the housing price bubble.
C) stock market crash.
D) increase in household liabilities.
A
Economics
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Refer to Table 8-4. Consider the data above (in billions of dollars) for an economy: Gross domestic product (in billions of dollars) for this economy equals
A) $2,200. B) $2,100. C) $1,600. D) $1,400.
Economics
Which of the following is a definition of economic fluctuations?
a. Movements in prices around their long-run trend b. Shifts in the long-run trend of output c. Movements of the real wage over the long run d. Shifts in the long-run trend of prices e. Movements in output around its long-run trend
Economics