Savings for an economy is equal to:
A. private savings + public savings.
B. public savings ? private savings.
C. investment ? net exports.
D. private savings ? public savings.
Answer: A
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Marginal benefit curves slope
A) upward because of increasing opportunity cost. B) upward, but not because of increasing opportunity cost. C) downward because of increasing opportunity cost. D) downward, but not because of increasing opportunity cost.
If firms in a competitive market are ________ then there is ________ for firms to ________ the industry
A) incurring economic losses; an incentive; exit B) incurring economic losses; no incentive; exit C) making economic profits; no incentive; enter D) making zero economic profit; an incentive; exit
In Figure 4-5 above, at what income would the interest rate that brings about money market equilibrium cause unwanted inventories of commodities to accumulate?
A) YA B) YB C) YE D) YC
The housing market of the early to mid-2000s did not feature:
a. "teaser rates" on home mortgages. b. a dramatic rise in housing prices. c. widespread calls to end "predatory" lending practices. d. "subprime" mortgages.