During and After the Great Recession, Various Governmental Entities Proposed

question 15

Multiple Choice

During and after the Great Recession, various governmental entities proposed policies to create jobs, increase the minimum wage, and regulate financial markets. This flurry of policy making was likely a result of which context, affecting the policy-making process?

• A) economic
• B) cultural
• C) defense
• D) governing

---

Definitions:

Oligopolistic Markets

Markets characterized by a few large producers that have the ability to influence prices, but must consider the actions of their rivals.

Minimum Efficient Scale

The lowest level of output at which a firm can minimize long-run average total cost.

U.S. Agriculture

The sector of the United States economy that deals with the production of plants and animals for food, fiber, and other products.

Farm Share

The portion of the final retail price of agricultural products that goes back to the farmers.