6. Which was NOT a cause contributing to the recession of 2007-2008? Select one:

Question

6. Which was NOT a cause contributing to the recession of 2007-2008?

Select one:

a. Bankruptcy of Lehman Brothers

b. Consumer overspending

c. Recession that began in December 2007

d. Impact of rising home foreclosures on the banking system

7. An "economy" cannot be applied to which group below?

Select one:

a. Community

b. Region

c. Country

d. Group of countries

e. World

f. Household

8. An extremely severe period during which the reduction in economic activity is long-lasting is called a/a

Select one:

a. Recession

b. Expansion

c. Depression

d. Boom economy

9. The Great Depression of the 1930s is explained by a sharp contraction of

Select one:

a. Aggregate Demand

b. Aggregate Supply

c. Taxes

d. Profits

10. The Business Cycle is the

Select one:

a. long term growth cycle over time for the economy

b. short term growth cycle over time for the economy

c. long term growth cycle over time of firm profits

d. short term growth cycle over time of firm profits

Explanation / Answer

6. Which was NOT a cause contributing to the recession of 2007-2008?

Ans- b. Consumer overspending.

7. An "economy" cannot be applied to which group below?

Ans-

8. An extremely severe period during which the reduction in economic activity is long-lasting is called a/a

Ans-c. Depression.

9.The Great Depression of the 1930s is explained by a sharp contraction of

a. Aggregate Demand.

10.The Business Cycle is the-

a.long term growth cycle over time for the economy.

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