It was the rapid and system-wide deleveraging that contributed to the downward spiral of the 2008 financial crisis
a. True
b. False.
A
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Robert Nozick asserts that fairness and efficiency result if
A) there are price ceilings in the market. B) there are external benefits and external costs in the market. C) voluntary exchange occurs. D) public goods are provided by government.
Where monopsony exists, ____ workers will be hired at ____ wages than if perfect competition prevailed in a labor market
a. fewer; lower b. fewer; higher c. more; lower d. more: higher
When a person buys stock in a company, that person is buying ________, but when a person buys a bond in a company, that person is ________ the company
A) ownership; borrowing funds from B) ownership; lending funds to C) debt; lending funds to D) debt; borrowing funds from
What is the principle distinction between explicit costs and implicit? costs?
A. There is no real difference between explicit and implicit costs. B. Implicit costs are usually larger than explicit costs. C. Implicit costs must be paid immediately, but explicit costs need to be paid only in the long run. D. Explicit costs are direct, out-of-pocket payments, while implicit costs are all foregone opportunity costs