When the U.S. housing market crashed, it caused all of the following except:
A. lenders to stop lending.
B. banks to go bust due people not paying their mortgages.
C. the U.S. economy to tip into the Great Recession.
D. all sellers of real estate to profit when selling their house.
D. all sellers of real estate to profit when selling their house.
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The maximum profit for a single-price monopoly is found when the firm produces the level of output so that
A) marginal revenue equals marginal cost. B) price equals marginal cost. C) it can charge the highest possible price. D) marginal revenue exceeds marginal cost by as much as possible. E) total revenue equals total cost.
Refer to Table 9-11. If the actual terms of trade are 1 hat for 1.8 clocks and 150 hats are traded, how many clocks will Denmark gain compared to the "without trade" numbers?
A) 30 B) 100 C) 150 D) 900
Recently, new discount window lending procedures set a penalty rate that is normally __________ short-term market interest rates
A) just below B) above C) approximately equal to D) None of the above.
Economists assume that business firms attempt to maximize their profits
a. True b. False Indicate whether the statement is true or false