One of the contributing factors to the financial crisis of 2007-2009 was that mortgage lending practices were ____________ strict in the late 1990s and early 2000s, compared to earlier periods such as the 1970s and 1980s, which led to a(n) _______________ in subprime and other nontraditional mortgage loans
A) less; increase
B) more; increase
C) less; decline
D) more; decline
A
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There was an extensive black market (illegal market) for many consumer products in the United States during World War II. A likely explanation of the black market is that:
a. the prices of goods were artificially held down by price controls. b. black markets were legal during the war. c. goods were not subject to price controls. d. gasoline rationing greatly restricted civilians from driving to stores.
The PPP index:
A. describes the overall differences in poverty levels between countries. B. describes the overall inequality present in one country compared to another. C. describes the overall difference in prices between countries. D. None of these is true.
Sheila and Jim live in an island where they are the only two workers. Sheila can either catch 10 fish or gather 40 pounds of berries each day, and Jim can either catch 8 fish or gather 24 pounds of berries each day. Both of them work 200 days per year. At current world prices 1 fish trades for 3.5 pounds of berries. In a closed economy, if the citizens of this island consume 1,200 fish per year, how many pounds of berries can they consume?
A. 4,800 pounds B. 9,200 pounds C. 12,800 pounds D. 8,000 pounds
In a certain economy, the components of aggregate spending are given by: C = 100 + 0.9(Y - T) - 500rI = 150 - 1,000rG = 200NX = 50T = 100Given the information about the economy above, the immediate impact on aggregate expenditures of a one-percentage-point increase in the real interest rate (r) from 5 percent to 4 percent is ________, and the eventual impact on short-run equilibrium output is ________.
A. an increase by 15 units; a increase by 150 units. B. an increase by 150 units; a decrease by 1,500 units. C. an increase by 150 units, an increase by 150 units. D. a decrease by 15 units, a decrease by 150 units.