The level of household debt incurred over the two decades leading up to the 2008 crisis was only sustainable if interest rates:
A. and housing prices both remained high.
B. remained low and housing prices remained high.
C. remained high and housing prices remained low.
D. and housing prices both remained low.
Answer: B
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What are federally chartered banks called?
A) federal banks B) Federal Reserve banks C) national banks D) central banks
Human capital is defined as the:
A. amount of capital that is operated by workers in a firm. B. amount of capital that is operated by workers in an industry. C. amount of workers a firm employs. D. set of skills, knowledge, experience, and talent that determine the productivity of workers.
If OPEC is an effective cartel,
a. price changes are dictated by changes in demand. b. output changes are dictated by changes in demand. c. members agree on output quotas. d. all of these.
Refer to the graph shown. An effective price ceiling at $3 imposes a deadweight loss of:
A. 50. B. 30. C. 20. D. 100.