What year did bank failures peak in the United States?
a. 1985
b. 1989
c. 2007
d. 2009
b
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A debt contract is incentive compatible
A) if the borrower has the incentive to behave in the way that the lender expects and desires, since doing otherwise jeopardizes the borrower's net worth in the business. B) if the borrower's net worth is sufficiently low so that the lender's risk of moral hazard is significantly reduced. C) if the debt contract is treated like an equity. D) if the lender has the incentive to behave in the way that the borrower expects and desires.
In a perfectly competitive market,
A) firms can freely enter and exit. B) firms sell a differentiated product. C) transaction costs are high. D) All of the above.
This year, Abigail earned $15,000 and she paid 15 percent in income and payroll taxes. She qualified for Medicaid and food stamps. For every $100 that she earns, Abigail loses $35 in Medicaid benefits and $15 in food stamps. Abigail faces an effective marginal tax rate of
a. 15 percent. b. 35 percent. c. 50 percent. d. 65 percent.
The characteristics of jobs and workers affect
a. labor supply. b. labor demand. c. equilibrium wages. d. All of the above are correct.