Which of the following statements is incorrect? a. Holdings of liquid assets (or access to credit from financial institutions) reduce the  likelihood of financial distress. b. Financial imbalances and asset price crashes have been the key source of recessions in  the U.S. in recent past. c. The 1918-1919 Great Influenza pandemic did not lead to an economic depression,  although it caused significant fatalities around the world. d. L-shaped recovery pattern in Greece in the aftermath of 2007-2009 global financial  crisis was in part due to the unavailability of monetary policy tools to the Greek  authorities (because of Euro membership)

ENGR.ECONOMIC ANALYSIS
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ISBN:9780190931919
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Chapter1: Making Economics Decisions
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Which of the following statements is incorrect?
a. Holdings of liquid assets (or access to credit from financial institutions) reduce the 
likelihood of financial distress.
b. Financial imbalances and asset price crashes have been the key source of recessions in 
the U.S. in recent past.
c. The 1918-1919 Great Influenza pandemic did not lead to an economic depression, 
although it caused significant fatalities around the world.
d. L-shaped recovery pattern in Greece in the aftermath of 2007-2009 global financial 
crisis was in part due to the unavailability of monetary policy tools to the Greek 
authorities (because of Euro membership)

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