13. The first Evidence-Based Economics feature in the chapter identifies three key factors that caused the recession
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13. The first Evidence-Based Economics feature in the chapter identifies three key factors that caused the recession of 2007–2009.
a. How would Keynes’s concept of animal spirits explain the creation of a housing bubble?
b. Explain how the 2007–2009 recession affected the consumption and investment components of the national income identity.
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