Market exchange usually benefits
a. both consumers and buyers, but not sellers
b. both consumers and producers
c. only consumers
d. only employees
e. only producers
B
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The purchasing power parity hypothesis implies that an increase in inflation in one country relative to another will over a long period of time
a. increase exports b. reduce the competitive pressure on prices c. lower the value of the currency in the country with the higher inflation rate d. increase foreign aid e. increase the speculative demand for the currency
When cyclical unemployment is zero,
A) frictional unemployment is zero. B) cyclical and frictional unemployment are zero. C) structural unemployment is zero. D) the unemployment rate equals the natural unemployment rate. E) the natural unemployment rate is zero.
During the housing boom of the mid-2000s, many lenders made mortgage loans to homebuyers who typically had flawed credit histories which made these borrowers high credit risks
These homebuyers were typically charged interest rates that were initially low but would rise after a period of years to very high rates. Homeowners who took out these types of mortgages are often referred to as A) payday borrowers. B) default-risk intermediaries. C) subprime borrowers. D) FHA customers.
Define incrementalism and give two reasons why incrementalism might be efficient
What will be an ideal response?