What Did the Global Economic Crisis of 2008 Show About

question 20

Multiple Choice

What did the global economic crisis of 2008 show about the relationship between state and society?

• A) States like China, where the state played a stronger role in the economy, fared worse than states like the United States, where the state played a smaller role in the economy.
• B) In order to overcome the economic crisis, states must increase their role in society.
• C) States like China, where the state played a stronger role in the economy, fared better than states like the United States, where the state played a smaller role in the economy.
• D) It is more difficult for states like the United States to overcome the economic crisis, because they have so many actors in their decision-making process, such as interest groups and the media.

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Definitions:

Total Output

The total quantity of goods and services produced by an economy, a company, or a sector during a specific period.

Marginal Revenue Productivity

The additional revenue a company generates when it increases the production input by one additional unit.

Superstars

Highly successful individuals, especially in sports and entertainment, who command significant attention and compensation due to their exceptional talent or appeal.

High Pay

Compensation levels that are significantly above the average or median for similar positions or industries, often reflecting high skill, experience, or demand.