Which of the following was not a cause of the Great Recession?
a. Excessive use of the "originate-to-hold" strategy.
b.Government incentives to increase home ownership.
c. Government encouragement of creative home-buying strategies.
d. Relaxation of bank underwriting standards.
e. All of the above were causes of the Great Recession.
.A
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If the economy is at full employment and the Fed increases the quantity of money, _______
A. aggregate demand increases, a recessionary gap appears, and the money wage rate starts to rise B. aggregate supply increases, the price level starts to fall, and an ex-pansion begins C. aggregate demand increases, an inflationary gap appears, and the money wage rate starts to rise D. potential GDP and aggregate supply increase together and the price level does not change
Everything else equal, the AC curve will shift when
A. the price of the product rises. B. technological change raises the MPP of one input. C. output rises. D. increasing returns to scale are present.
Because handling charges are relatively fixed, the interest rate on a loan generally
A) increases with the size of the loan. B) decreases with the size of the loan. C) is constant regardless of the size of the loan. D) is unrelated to the size of the loan.
If the price elasticity of supply is 3, supply is:
A. unaffected by price changes. B. inelastic. C. unit elastic. D. elastic.