Which of the following was a contributing factor to the housing boom and bust and the financial crisis of 2008?
a. An increase in the share of loans to sub-prime borrowers.
b. An increase in the share of loans extended to borrowers making only a small down payment.
c. An increase in adjustable-rate mortgages (ARMs) as a share of the total.
d. All of the above.
D
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Refer to Table 13-1. The Table shows
A) a demand schedule with an inelastic segment from $7.50 to $6.50 followed by an elastic segment. B) a demand schedule with an elastic segment from $7.50 to $6.50 followed by an inelastic segment. C) an elastic segment of the demand schedule. D) an inelastic segment of the demand schedule.
Lack of economic success in many African countries can be attributed to
a. excessive money supply growth b. too-rapid market liberalization c. weak social institutions d. too much state control over agricultural production e. all of the above
Efficient production means producing
a. less output when costs are high and more output when costs are low b. at the lowest possible cost regardless of the quantity of output c. at any point on the production possibilities curve d. no more than what society needs e. in excess of what society needs
A corporation is an entity separate and distinct from its owners
a. True b. False Indicate whether the statement is true or false