The Macropolicy Solution to the 2001 Recession Was Substantially Easier

question 244

Multiple Choice

The macropolicy solution to the 2001 recession was substantially easier to implement than in 2008 because

• A)in 2001,we had a much more qualified chairman of the Federal Reserve.
• B)in 2008,we had "Obama care" health care program.
• C)in 2001 we had a government surplus and in 2007 we had a large government surplus.
• D)in 2001 we had a smaller number of illegal immigrants in the country.

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Definitions:

Elastic

A term in economics that describes the sensitivity of demand for a product in response to changes in its price.

Strategic Pricing

This is the practice of setting prices to maximize a company's profits by considering the product's value to the customer, market conditions, and competition.

Price Objectives

The goals a company aims to achieve regarding the pricing of its products or services, which can include maximizing profitability, increasing market share, or deterring competition.

Analyze Price Competitors

The process of examining the pricing strategies of competitors in the market to understand their impact on sales and positioning.