Which of the following was not a contributing factor to the housing market boom of the 2000s?
A. Mortgages with no or little money down
B. Scant concern given to people's ability to meet the mortgage payment
C. Low interest rates
D. The merging of large banks giving them more assets
Answer: D
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Refer to the figure below. In response to gradually falling inflation, this economy will eventually move from its short-run equilibrium to its long-run equilibrium. Graphically, this would be seen as
A. long-run aggregate supply shifting leftward B. Short-run aggregate supply shifting downward C. Aggregate demand shifting rightward D. Aggregate demand shifting leftward
The desirability of an export orientation for development rests on the claim that export industries
a. make better use of domestic resources than do import-substitute industries b. attract foreign investors c. use factors of production that are abundant domestically d. earn more foreign exchange than would be saved by substituting for imports e. all of the above
The purchasing power parity method of comparing income levels across countries
What will be an ideal response?
In the model of aggregate demand and aggregate supply, the GDP deflator measures the
a) price of oil. b) average price level. c) nominal interest rate. d) amount of real output.