When the U.S. housing market crashed, it caused all of the following except:
A. all sellers of real estate to profit when selling their house.
B. lenders to stop lending.
C. the U.S. economy to tip into the Great Recession.
D. banks to go bust due people not paying their mortgages.
Answer: A
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In 2014, in the United States the sum of the balance of all three of the balance of payments accounts was
A) slightly negative. B) slightly positive. C) greatly positive. D) greatly negative. E) zero.
In the loanable funds market, an increase in wealth shifts the ________ loanable funds curve ________
A) supply of; rightward B) supply of; leftward C) demand for; rightward D) demand for; leftward
A rise in the wage rate would cause
A. an increase in the MRP schedule of labor. B. a decrease in the MRP schedule of labor. C. no change in the MRP schedule of labor.
Imports are goods and services bought domestically
A) and produced domestically. B) but produced in other countries. C) and resold at a profit. D) and not subject to tariffs.