Answer the following statement(s) true (T) or false (F)
1. Between 2000 and 2006, many mortgage-backed securities were given AAA ratings.
2. In 2005–2006, the Fed lowered interest rates.
3. Zero down payment mortgages led to fewer foreclosures.
4. Housing construction grew rapidly from 2006 to 2008.
5. The Dodd-Frank Act requires mortgage brokers to document applicants’ income, credit history and job status
1. True
2. False
3. False
4. False
5. True
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If Justine's money wages tripled from 2015 to 2020 and the consumer price index tripled, we would know that Justine's real wages
A. fell substantially. B. fell slightly. C. stayed the same. D. rose slightly.
A binding price ceiling that could be set in the market in the graph shown would be:
A. $15.
B. $11.
C. $8.
D. $30.
As the price of the U.S. dollar increases in terms of foreign currency,
a. U.S. products become cheaper for foreigners b. foreign goods become cheaper for Americans c. dollars are worth less d. the U.S. demand for foreign exchange increases e. the supply of foreign exchange to U.S. markets decreases
Which of the following will have a downward impact on efficiency wages?
a. Low monitoring costs b. Excess supply in the labor market c. High equilibrium wage rate d. Excess demand in the labor market