Economists discourage homeowner bailouts because
a. They encourage irresponsible borrowings
b. It increases moral hazard among borrowers
c. It punishes responsible borrowers
d. All of the above
d
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The two most severe recessions of the post-World War II era occurred in 1981-1982 and 2008-2009 . The policy responses to the two recessions were
a. very similar; expansionary fiscal policy promoted a strong recovery in both cases b. very similar, but the recovery was nonetheless weak in both cases c. dramatically different; tax rates were cut and monetary policy was restrictive during the earlier recession, while government spending was increased sharply and monetary policy highly expansionary during the more recent recession d. dramatically different; tax rates were increased and monetary policy was highly expansionary during the earlier recession, while tax rates were cut and monetary policy was restrictive during the more recent recession
Member banks of the Federal Reserve System
A. advise the Fed on monetary policy. B. are immune from the effects of monetary policy. C. vote on members of the Board of Governors. D. have little control over the system they “own.”
If a pair-wise majority vote was held and the voters' preferences are shown in the table, assuming public parks and transportation was the first pair to be voted on, which voter will be happiest with the outcome?
A. Abby
B. Carlo
C. Bob
D. Bob and Carlo will be equally happy.
Which term describes the situation in which a country that can consume more than it can produce as a result of specialization and trade?
a. comparative advantage b. absolute advantage c. gain from trade d. trade advantage