During 1979-2005, the mortgage default rate
a. was less than the foreclosure rate.
b. soared to more than 5 percent during recessions but declined sharply during economic expansions.
c. soared to more than 5 percent during expansions but declined sharply during economic recessions.
d. was generally between 1 and 2 percent.
D
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Suppose that in the market for bottled water, the market supply is QS = 14 + 20Pand the market demand is QD = 74 – 10P, then equilibrium price is
a. $2 b. $54 c. $6 d. none of the above
Which statement is false?
A. Before the Civil War about three quarters of the farms of over 500 acres were located in the South. B. The great abundance of land was the most influential factor in the United States' economic development during the 19th century. C. Although the percentage of Americans living on farms has declined substantially over the last 70 years, the actual number of people living on farms has remained constant. D. None of the statements are false.
Once voting preferences become more complicated than those assumed by the median-voter theorem:
A. the way in which votes are cast becomes important. B. the policies preferred by the average voter become more important. C. the politicians stay more extreme in their views. D. economists cannot analyze voting preferences successfully.
The midpoint method is used to calculate elasticity between two points because it gives the same answer regardless of the direction of the change
a. True b. False Indicate whether the statement is true or false