In 1979, when the Fed was deciding how aggressively to fight inflation, the typical estimate of the sacrifice ratio was
a. 1.
b. 5.
c. 7.
d. 10.
b
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The provision of funds to the mortgage market through the purchase of mortgage-backed securities and mortgages is performed by ________
A) Fannie Mae and Freddie Mac B) the Federal Housing Administration C) the Federal Reserve System D) subprime borrowers
_____ illustrates the speculative temper of the 1920s
a. The Ponzi scheme b. The New York pyramid scandal c. The Florida Land Boom d. Both a and b are correct. e. Both a and c are correct.
In a market economy, who or what determines who produces each good and how much is produced?
a. the government b. lawyers c. lotteries d. prices
As measured, GDP omits which of the following?
i. Illegal sales of goods and services ii. Changes in the amount of leisure time iii. Household production of goods and services A) i and ii B) ii and iii C) i only D) i, ii, and iii E) i and iii