Both the Great Recession and the Great Depression a. had unemployment peaking at 10% b. were caused by short-run aggregate supply shocks c. were associated with falling prices d. were associated with a financial crisis

Both the Great Recession and the Great Depression a. had unemployment peaking at 10% b. were caused by short-run aggregate supply shocks c. were associated with falling prices d. were associated with a financial crisis

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Both the Great Recession and the Great Depression

a. had unemployment peaking at 10%

b. were caused by short-run aggregate supply shocks

c. were associated with falling prices

d. were associated with a financial crisis

Definition Definition Total supply of goods and services in an economy at a certain price level in a specific time period.

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