In some countries in Sub-Saharan Africa real GDP per person has been stagnant for many years
a. True
b. False
Indicate whether the statement is true or false
True
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The increase in the demand for widgets, shown in the figure above, is the result of a decrease in the price of McBoover devices from $11 to $9. Therefore, the cross-price elasticity for these two products is
A) -2.0. B) -0.5. C) 0.5. D) 2.0.
If the Fed wishes to decrease the supply of money and credit, it may sell government securities, raise the discount rate, or lower required reserve ratios
Indicate whether the statement is true or false
In the United States, the growth rate of expenditures has been most volatile for
A) durable goods. B) nondurable goods. C) services. D) The volatility has been roughly equal for all three categories of consumption expenditures.
Subprime borrowers ________
A) are those individuals who owe more on their mortgage than the value of their home B) possess a relatively low FICO score C) rely on mortgage-backed securities to support their mortgage applications D) are those with an income level below the value of their mortgage