The desire in the U.S. for owner-occupied housing led to subsidies that contributed to the recession which started in 2007.
A. True
B. False
C. Uncertain
A. True
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The demand curve for an individual seller's product in perfect competition is
A) vertical. B) horizontal. C) downward sloping. D) the same as market demand.
Differences in interest rates for different type of loans are due to:
A. the length of time the borrower has to repay the loan. B. the amount of the loan. C. government policy. D. exchange rate
Which of the following is a form of a direct tax?
a. Personal income tax b. Sales tax c. Excise duty d. Import tariff e. Value-added tax
In the specificfactors model, suppose that a country has a comparative advantage in manufacturing output. Will workers be better or worse off following the opening of trade with other countries?
a. Workers will be better off because the nominal wage increases. b. Workers will be better off because both nominal and real wages increase. c. Workers may be better off or worse off because the real wage in terms of the agricultural good rises and the real wage in terms of the manufactured good falls. d. Workers may be better off or worse off because the real wage in terms of the agricultural good falls and the real wage in terms of the manufactured good rises.