To an economist, total costs include
A) explicit, but not implicit costs.
B) implicit, but not explicit costs.
C) explicit and implicit costs.
D) neither explicit nor implicit costs.
C
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The increase in the share of loans extended to borrowers with little or no down payment contributed to the financial crisis of 2008 because these loans
a. initially depressed housing prices. b. were extended only to borrowers with prime credit status. c. had much higher default rates than loans to borrowers making larger down payments. d. were unavailable to low-income borrowers, who would have profited the most from such loans.
The coefficient of determination (R2) decreases when an independent variable is added to a multiple regression model.
Answer the following statement true (T) or false (F)
Assume that banks do not hold excess reserves, all deposits remain in the banking system and that the required reserve ratio is 20%. If one bank obtains excess reserves of $10,000, then the maximum increase in money supply is
A) $10,000. B) $20,000. C) $40,000. D) $50,000.
In the above figure, starting at E3, if there is an increase in technology that causes a permanent increase in production capabilities
A. aggregate supply would shift to SRAS1 and LRAS0 would shift to LRAS1. B. aggregate supply would shift to SRAS0 and LRAS1 would shift to LRAS0. C. aggregate supply would shift to SRAS1 and then return to SRAS0. D. aggregate supply would shift to SRAS2 and LRAS0 would shift to LRAS1.