When the housing bubble collapsed, the entire borrowing and lending engine of the economy ground to a halt because:
A. no one could tell which banks were safe, and which were not.
B. banks wanted to lend to no one, in case they turned out to be a bad risk.
C. the herd instinct became to not borrow or lend.
D. All of these statements are true.
D. All of these statements are true.
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The Board of Governors of the Federal Reserve System consists of
A) 7 members appointed by Congress and 7 appointed by the President. B) the presidents of each regional Federal Reserve bank. C) 12 members appointed by Congress. D) 7 members appointed by the President of the United States.
If the firm in Figure 17-4 above maintains its set price of P0, rather than dropping price to P1, the loss of consumer surplus due to this decision is
A) J + K. B) K - G. C) G + H. D) H + K.
The labor force includes individuals who are: I. Employed II. Unemployed III. Discouraged workers
A) I only B) Both I and II C) Both I and III D) All I, II and III
Which of the following statements is correct about the U.S. balance of payments in 2017?
a. Transfer payments from the United States were greater than transfer payments into the United States.
b. A smaller value of goods were imported into the United States than were exported from the United States.
c. The current account balance was greater than the financial account balance.
d. The balance on goods and services was greater than the net balance.