Based on the graph showing how the subprime share of home mortgages grew rapidly before the big decline, the share of subprime loans began its steepest climb ______.
a. about the same time adjustable mortgage rates bottomed-out
b. about three years after adjustable mortgage rates bottomed-out
c. about three years before adjustable mortgage rates bottomed-out
d. about the same time adjustable mortgage rates began to decrease
a. about the same time adjustable mortgage rates bottomed-out
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In the figure above, D0 is the demand for labor curve. Imposing a minimum wage of $3 per hour will
A) have no effect on the market. B) result in unemployment. C) result in a labor shortage. D) immediately shift the demand curve to D1.
How is the market demand for public goods derived?
What will be an ideal response?
If a perfectly competitive firm is producing at an output at which marginal cost exceeds marginal revenue
A) price will be at the profit maximizing level. B) sales will be at the profit maximizing level. C) the firm should expand production. D) the firm should reduce production.
If Pat's income increased from $250,000 to $500,000 and his consumption increased from $200,000 to $300,000, what was his marginal propensity to consume?
a. 0.4 b. 0.6 c. 0.8 d. 0.9