According to this Application, the recessions in 1973 and 1979 were caused by
A) foreign monetary developments. B) deflation.
C) arbitrage losses in the foreign exchange market. D) supply shocks.
D
Economics
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The economic way of thinking pays special attention to costs, assumes individuals seek to maximize some objective, and focuses on choices at the margin.
a. true b. false
Economics
In the 1980s, the federal government gradually ________ interest-rate ceiling on deposits at commercial banks and thrift institutions, which has ________ the costs of inflation
A) imposed, lowered B) imposed, reduced C) lifted, lowered D) lifted, reduced
Economics