Which of the following did NOT happen during the 2008-09 financial crisis?
A. Deposit insurance was extended to all accounts.
B. The Fed quickly raised interest rates to stop the flow of easy credit.
C. The Fed became the majority owner of the insurance company AIG.
D. The U.S. Treasury guaranteed trillions of dollars in money market funds.
Ans: B. The Fed quickly raised interest rates to stop the flow of easy credit.
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Market equilibrium
i. can never occur because there are always people who want a good but cannot afford it. ii. occurs at the intersection of the supply and demand curves. iii. is the point where the price equals the quantity. A) ii only B) iii only C) ii and iii D) i only E) i and ii
Measures of poverty that fail to account for the value of in-kind transfers
a. understate the actual poverty rate. b. have little effect on the validity of reported poverty rates. c. are generally more reliable measures of actual poverty rates. d. overstate the actual poverty rate.
Of the following high-income countries, which has the lowest number of MRI units per 1 million population?
A) Canada B) Japan C) the United Kingdom D) the United States
The above figure shows Bobby's indifference map for juice and snacks. Also shown are three budget lines resulting from different prices for snacks. As the price of snacks rises, Bobby's utility
A) stays the same. B) increases. C) decreases. D) might change, but there is not enough information to determine.