A prominent aspect of the recent Great Recession, but not of the Great Depression of the 1930s, is ________.
A) bank panics
B) mortgage defaults
C) an increase in the credit spread
D) nonconventional monetary policy
Question 2
In macroeconomic analysis, the representative consumer
A) denotes the consumer with the average amount of income.
B) plays the role of a stand-in for all consumers in the economy.
C) is the consumer who bargains with firms for all workers in the economy.
D) is always a misleading fiction.
