The recession of 2008-2009 was preceded by
a. a sharp decline in housing prices.
b. large losses among financial institutions that owned mortgage-backed securities.
c. rises in mortgage defaults and home foreclosures.
d. all of the above
d
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Describe the conditions under which a common resource is used efficiently
What will be an ideal response?
The value of the marginal product of new capital increases when the:
A. productivity of new capital increases. B. the price of the good the firm produces decreases. C. real interest rate increases. D. price of new capital goods increases.
A radio ad conveys the hours a store is open. By doing this, the ad ______.
a. creates a more elastic demand curve. b. creates a demonstration effect c. communicates important information d. communicates misleading information
For a firm in a perfectly competitive industry, the demand curve for its own product is
A) downward sloping. B) vertical. C) always above the marginal revenue curve. D) the same as the marginal revenue curve.