From 1970 to 2007 households held ________ because ________
A) less money relative to income; people began using credit cards less often
B) less money relative to income; people began using credit cards more often
C) more money relative to income; people began using credit cards less often
D) less money relative to income; the price level began to rise
E) more money relative to income; people began using credit cards more often
B
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Compare and contrast the arguments favoring active versus passive policy making
What will be an ideal response?
GDP handles household production by
A) estimating a dollar value of the goods purchased to do housework. B) ignoring it. C) including it in real GDP but not in nominal GDP because there are no prices paid for the work. D) estimating a dollar value of the services provided. E) including it in exactly the same way that all other production is included.
When Ferrari sells stock to the public in its IPO, it will do so through the New York Stock Exchange. This is an example of Ferrari raising funds through
A) a financial market. B) reinvesting retained earnings. C) dividend reinvestment. D) a financial intermediary.
A perfectly competitive firm in the short-run can earn:
a. positive economic profits. b. negative economic profits. c. zero economic profits. d. all of these are possible