The long boom ended in
A) 1999.
B) 2001.
C) 2008.
D) 2012.
B
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Explain the effect of the following changes on equilibrium price and quantity of a commodity: (a) increase in average incomes. (b) increase in population.
What will be an ideal response?
When a government has a budget surplus, the surplus
A) helps finance investment. B) crowds-out private saving. C) must be subtracted from private saving to get total saving. D) increases the world real interest rate.
To lower long-term interest rates, in 2010 the Fed started its new open market operation program to purchase
A) mortgage-backed securities. B) commercial papers. C) long-term Treasuries. D) Treasury bills and Treasury notes.
If a price decrease results in no change in seller's total revenue then
a. supply determined demand b. supply is unresponsive to demand c. demand is elastic d. demand is inelastic e. demand is unitary elastic