By 2006 and 2007, foreclosure rates in some previously-booming states, such as Nevada and Colorado, were
A. one hundred times the national average.
B. three times the national average.
C. roughly equal to the national average.
D. still far below the national average.
Answer: B
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Workers expect inflation to fall from 4% to 1% next year. As a result, this should
A) shift the short-run aggregate supply curve to the right. B) move the economy down along a stationary short-run aggregate supply curve. C) move the economy up along a stationary short-run aggregate supply curve. D) shift the short-run aggregate supply curve to the left.
International participants
A. Participate only in American product markets. B. Participate only in American factor markets. C. Take no part in American markets. D. Participate in both American factor markets and American product markets.
The long-run aggregate supply curve:
A. never moves. B. shifts right when the economy experiences economic growth. C. shifts left when the economy experiences economic growth. D. is affected by the price level.
Government intervention that fails to improve economic outcomes is known as market failure.
Answer the following statement true (T) or false (F)