The Economy in 2008

question 24

Multiple Choice

The Economy in 2008
In the first half of June 2008 the effects of a housing and financial crisis and an increase in world prices of oil and foodstuffs were affecting the economy.
-Refer to The Economy in 2008.In the short-run the effects of the housing and financial crises

• A)raise both inflation and the unemployment rate.
• B)raise the inflation rate and reduce the unemployment rate.
• C)reduce the inflation rate and raise the unemployment rate.
• D)reduce both the inflation rate and the unemployment rate.

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Definitions:

Perfectionist

An individual who strives for flawlessness and sets excessively high performance standards, often accompanied by overly critical self-evaluations.

Maturation

The process by which an individual or organism develops over time, encompassing physical, mental, and emotional growth.

Automatic

Operations or processes that are performed with little or no conscious thought or effort.

Effortless

Something that is achieved with remarkable ease, often appearing natural or without hard work.