The U.S. recession of 2007-2009 provides a good example of:
A. demand-pull inflation.
B. cost-push inflation.
C. a recessionary expenditure gap.
D. the repercussions of hyperinflation.
C. a recessionary expenditure gap.
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According to this Application, home equity is the single largest component of net wealth for most families in the United States. As home equity falls
A) autonomous consumption will decrease, shifting the consumption function downward. B) the MPC will decrease, increasing the slope of the consumption function. C) autonomous consumption will decrease, shifting the consumption function upward. D) the MPC will decrease, decreasing the slope of the consumption function.
Before its IPO, Facebook was an example of a private firm. As a private firm, Facebook was
A) not subject to government regulations and taxation. B) not legally allowed to raise funds through venture capital firms. C) run by stockholders and a board of directors. D) run by its founder, Mark Zuckerberg.