Each of the following scenarios can best be described as either \'\'contagion\'\

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Each of the following scenarios can best be described as either ''contagion'' or ''not contagion.'' Label each statement appropriately. There is a bubble in the price of small, animal-shaped bean bag toys. The price eventually drops significantly, diminishing the wealth of collectors of Not these toys. Because collectors become warier of collectibles in general, the Contagion price of baseball cards also drops substantially, lowering the wealth of Contagion serious baseball card collectors. A company heavily invests in an asset whose value later falls sharply due to a large increase in the supply of that asset. The company goes out of business as a result of the fall in value. Two companies heavily invest in an asset whose value later falls sharply due to a large increase in the supply of that asset. The fall in value causes both companies to go out of business. Investors in the U.S. have invested heavily in lesser-developed countries due to high predicted growth rates in real GDP of those countries. One country enters a recession, making the predicted growth rates of that country overly optimistic in hindsight and resulting in that country defaultin9 on many of its loans. As a result, U.S. investors retrieve their investments in the other lesser developed countries out of fear that those growth forecasts are also overly optimistic. These lesser-developed countries enter a recession as a result of the substantial loss of capital.

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