The run up in gasoline prices between 1999 and 2007
A. still had them much below their long-term inflation-adjusted average.
B. put them about the same as their long-term inflation-adjusted average.
C. still had them slightly below their long-term inflation-adjusted average.
D. put them much above their long-term inflation-adjusted average.
Answer: D
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A financial market in which previously issued securities can be resold is called a ________ market
A) primary B) secondary C) tertiary D) used securities
The sudden explosion of cheap and readily available mortgages encouraged people to:
A. buy bigger and better homes. B. become less risk-averse. C. become more risk-averse. D. securitize their investments.
The changes contained in the Tax Relief Act of 2001 included
A. More tax brackets to increase vertical equity. B. A partial shift from corporate to personal taxes. C. New loopholes to encourage education D. Narrowing the tax base.
The supply curve will be more inelastic when:
A. inputs to production are scarce. B. firms' response to a price change is limited by the limited capacity of their production facilities. C. a good has many substitutes. D. the firm is experiencing diminishing returns to a variable input.