5. Which of the following statements about financial crises is correct? a. They have involved loss of confidence and runs on financial institutions. b. They have been a recurrent feature of the U.S. economy since at least 1873. c. Such crises had a major role in the causation of both the Great Depression or the Great Recession. d. all of the above

5. Which of the following statements about financial crises is correct? a. They have involved loss of confidence and runs on financial institutions. b. They have been a recurrent feature of the U.S. economy since at least 1873. c. Such crises had a major role in the causation of both the Great Depression or the Great Recession. d. all of the above

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter18: Savings,investment And The Financial System

Section: Chapter Questions

Problem 1QR

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EXPLAIN DYNAMICS OF FINANCIAL CRISES
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