Usury laws are often politically popular because
a. few people sympathize with banks and other lenders who are suspected of price gouging.
b. consumers are in favor of the lower lending rates.
c. those concerned with affordable housing for the poor favor ceilings on mortgage rates.
d. All of the above are correct.
d
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Those who believe that the federal government should make it a priority to balance its budget argue that
A. Running a budget deficit is never justifiable. B. Budget deficits cause real interest rates to be too low. C. Government debt incurred today will lower the living standards of future generations. D. Government debt held in private hands is a danger to national security. E. Taxes should always be assessed at the level of aggregate demand.
A firm in a competitive input market can
A. hire additional workers only after a long search process. B. hire workers at the going wage. C. hire additional workers only by raising wages. D. hire additional workers at lower wages because those who are still unemployed are anxious to work.
With no international trade, a country ________ consume at a point outside of its PPF; with international trade, a country ________ consume at a point outside of its PPF
A) cannot; can B) can; can C) can; cannot D) cannot; cannot E) None of the above answers is correct because the presence or absence of international trade has nothing to do with where a country consumes in comparison to its PPF.
Refer to Table 5.1. What is Hector's opportunity cost of producing one bracelet?
A) 1/5 of a tiara B) 1.5 tiaras C) 5 tiaras D) 6 tiaras