As part of a hotel renovation program, a company must choose between two grades of carpet to install. One grade costs $22 per square yard, and the…
September 3, 2020
Many people have difficulty borrowing as much money as they want, even if they are confident that their incomes in the future will be high enough to…
September 3, 2020

In a speech in late 2011, President Obama argued that: “Probably the single greatest cause of the financial crisis and this brutal recession has been the housing bubble that burst four years ago”. What did President Obama mean by the “housing bubble”? How can a housing bubble bring on a recession?

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