The difference between U.S. financial regulation between the 1930s-to-1980 period and the 1980-to-2010 period is:
a. The earlier period was characterized by relatively loose government regulations and the later one was characterized by stricter government regulations.
b. The later period was characterized by heavy use of the originate-to-distribute" strategy.
c. The earlier period was characterized by recurring, nation-wide speculative housing bubbles.
d. The earlier period was characterized by heavy use of securitization.
e. All of the above.
.B
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If the expected inflation rate is 4 percent and the nominal interest rate is 9 percent, the expected real interest rate is _____
a. 13 percent b. ?5 percent c. 9 percent d. ?13 percent e. 5 percent
In a competitive market with identical firms,
a. an increase in demand in the short run will result in a new price above the minimum of average total cost, allowing firms to earn a positive economic profit in both the short run and the long run. b. firms cannot earn positive economic profit in either the short run or long run. c. firms can earn positive economic profit in the long run if the long-run market supply curve is upward sloping. d. free entry and exit into the market requires that firms earn zero economic profit in the long run even though they may be able to earn positive economic profit in the short run.
The political business cycle refers to the possibility that:
A. recessions coincide with election years. B. politicians will manipulate the economy to enhance their chances of being reelected. C. there is more inflation during Democratic administrations than during Republican administrations. D. incumbent politicians will be reelected regardless of the state of the economy.
A fiduciary monetary system is
A) fully backed by gold. B) dependent on barter for exchanges of goods and services. C) dependent on the public's faith to accept the currency. D) one which cannot have any inflation.