Most financial markets in the United States operate under a system:
A. where it depends on which state where the financial market is located since some states do not have any regulations.
B. without any formal rules or regulation.
C. with many rules and regulation to ensure a fair market.
D. that is totally controlled by the federal government.
Answer: C
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"Supply creates its own demand" is known as
A) Smith's law. B) Say's law. C) the circular flow. D) the Ricardian dilemma.
When people are standing in line for jobs and there are more applicants than jobs, then the labor market is characterized by a
A. Shortage of jobs from the point of view of the buyer in the labor market. B. Surplus of labor. C. Surplus of jobs from the point of view of the seller in the labor market. D. Shortage of labor.
The Monetary Control Act of 1980:
A. required banks to make home loans. B. eliminated many forms of competition among financial institutions. C. created sharper distinctions among various financial institutions. D. eliminated all interest rate ceilings.
All of the following factors came together in 2007-09 to cause a sharp drop in consumer spending EXCEPT
A) asset pyramid. B) the end of the housing price bubble. C) stock market crash. D) increase in household liabilities.