Recall the Application about the demand and price for margarine to answer the following question(s).Recall the Application. Between 2000 and 2009, total U.S. consumption of margarine ________ and the price, in real terms, ________.
A. doubled; doubled
B. decreased by roughly half; decreased by roughly half
C. decreased by roughly half; stayed roughly the same
D. doubled; stayed roughly the same
Answer: C
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Society faces a trade-off in all of the following situations except
A) when deciding who will receive the goods and services produced. B) when deciding what goods and services will be produced. C) when deciding how goods and services will be produced. D) when some previously unemployed workers find jobs.
Suppose a bank has $10 million in deposits with no excess reserves, and the reserve requirement is 20%. If the Fed reduces the reserve requirement to 5%, the bank can make a maximum loan of
A) $0. B) $0.5 million. C) $1.5 million. D) $2 million.
Richard Causey, former chief accounting officer for Enron, pleaded guilty to falsely reported costs for Enron that were ________ than they actually were, resulting in reported accounting profits for Enron that were ________ than their actual level
The financial statements were falsified to mislead investors about the profitability of the firm. A) lower; higher B) lower; lower C) higher; lower D) higher; higher
Which of the following was true regarding subprime mortgages that were popular in 2005–2006?
A. More than 90 percent of these loans were made by regulated banks. B. Bankers expected higher default rates on these loans. C. They were generally fixed rate loans. D. All of these responses are correct.