Federal government spending as a percentage of GDP was the highest since 1960 during:
a. the Great Depression
b. the aftermath of the oil crisis in the Gulf nations.
c. World War II.
d. the aftermath of the Great Recession.
d
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Which of the following information about fiat money is false? Fiat money
A) has little to no value except as money. B) serves as a medium of exchange. C) is backed by gold. D) is authorized by a central bank or governmental body.
Suppose that Wells Fargo Home Mortgage sells $10 million worth of mortgage payments to GMAC in exchange for $10 million in auto loan payments. This type of transaction is called a
A) credit option. B) credit swap. C) credit-linked note. D) credit default swap.
Suppose that the slope of a line tangent to the total cost curve at point X is equal to the slope of a line tangent to the total benefit curve at point X, then:
A. net benefit would be increased by reducing the amount of the activity. B. net benefit would be decreased by reducing the amount of the activity. C. net benefit would be increased by increasing the amount of the activity. D. net benefit is maximized.
What method is often used when both parties want to eliminate information asymmetry?
A. Statistical discrimination. B. Signaling. C. Moral hazard. D. Screening.