The S & L debacle ultimately cost American taxpayers
A. at least $10 billion.
B. about $100 billion
C. about $200 billion.
D. between $300 billion and $500 billion.
C. about $200 billion.
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A commodity speculator who thinks next fall's corn harvest will actually be much larger than most people now anticipate will want to
A) buy corn now for sale in September. B) buy September corn futures. C) buy land suitable for growing corn. D) sell September corn futures. E) sell corn in September from stocks accumulated between now and September.
Suppose a pickpocket steals your $20 bill and spends all of it on pizza and beer. What happens to GDP?
A) GDP increases by twenty dollars. B) GDP decreases by twenty dollars. C) Because the positive balances out the negative, GDP remains unchanged. D) GDP decreases because somebody has clearly been made worse off.
All of the following are necessary criteria for a commodity to function as money EXCEPT
A) it must deteriorate quickly. B) it must be divisible. C) it must be easy to carry. D) it must be widely accepted.
Consider the Keynesian consumption function. If disposable income is greater than the break-even level of disposable income, then households will be:
a. investing. b. borrowing. c. dissaving. d. saving.