The housing market boom raised people's perceived wealth.
Answer the following statement true (T) or false (F)
True
The housing bubble raised housing prices enormously. Because equity in housing rose, people's perceived wealth rose as well. However, these "wealth increases" were largely driven by asset price inflation, not an actual increase in wealth.
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What are the effects of an expansionary fiscal policy on interest rates and output in an open economy with floating exchange rates?
What will be an ideal response?
Many argue the poor are getting poorer, at least in a relative sense. Evidence that contradicts this is that
A) household income of the lowest twenty percent of households relative to the highest twenty percent of households has fallen over the last thirty years. B) the official poverty level of income has increased over the years. C) household spending of the lowest twenty percent of households relative to the highest twenty percent of households has held constant over the last thirty years. D) the pretax distribution of income is more equal than the after-tax distribution of income.
Quantity of Frozen Latte-On-A-Stick SuppliedPriceFlo's SupplyRita's Supply10020334649951512
Refer to Table 4.1, which shows Flo's and Rita's individual supply schedules for frozen latte-on-a-stick. Assuming Flo and Rita are the only suppliers in the market, if the market quantity supplied is 18, the price must be:
A. $2. B. $3. C. $4. D. $5.
Refer to the information provided in Figure 8.9 below to answer the question(s) that follow. 
Figure 8.9
Refer to Figure 8.9. If the market price of hay falls to $18, then to maximize profits this farmer should produce
A. 350 bales of hay. B. 500 bales of hay. C. 750 bales of hay. D. a level of output that is indeterminate from this information.