By 2012,Iceland's Real GDP ________,And the Real GDPs of Italy,Spain,Greece,and

question 125

Multiple Choice

By 2012,Iceland's real GDP ________,and the real GDPs of Italy,Spain,Greece,and Ireland ________.

• A)was still 5 percent lower than its level prior to the financial crisis; were more than 5 percent lower than their precrisis levels
• B)had returned to its level prior to the financial crisis; were all higher than their precrisis levels
• C)was still 5 percent lower than its level prior to the financial crisis; had returned to their precrisis levels
• D)had returned to its level prior to the financial crisis; were still 5 percent or more lower than their precrisis levels

---

Definitions:

Ration Coupons

Certificates or vouchers that allow the holder to purchase a certain amount of scarce goods, often used during shortages to ensure fair distribution.

Legally Determined Market Prices

Prices set by law or regulation rather than by market forces of supply and demand.

Ticket Scalping

The practice of buying tickets to an event and reselling them at a higher price, often to profit from high demand and limited supply.

Equilibrium

A state of balance in a market or system where opposing forces cancel each other out and no changes occur over time.