An implication of scarcity is that:
A. making trade-offs becomes unnecessary as wealth increases.
B. people will never be happy.
C. people must make trade-offs.
D. some people will always be poor.
Answer: C
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If the labor market in the above figure is competitive, what is the equilibrium wage and quantity of labor hired?
A) $10 and 100 hours B) $10 and 50 hours C) $5 and 100 hours D) $15 and 50 hours
Alt-A mortgages are
A) mortgages which are bundled together by financial institutions and sold to investors. B) mortgages issued to borrowers who fail to document that their incomes are high enough to afford their mortgages. C) mortgages issued to borrowers with flawed credit histories. D) government-backed mortgages issued by Fannie Mae and Freddie Mac.
In a typical year, about __________ of bank business loans in the United States are made by foreign-owned banks through their branches here
A) ten percent B) twenty percent C) one-third D) one-half
Which of the following statements is true?
A. Both nominal and real interest rates are procyclical and lagging. B. Both nominal and real interest rates are procyclical and leading. C. Nominal interest rates are procyclical and real interest rates are countercyclical. D. Nominal interest rates are procyclical and real interest rates are acyclical.