Reasons regulators chose to follow regulatory forbearance rather than to close the insolvent S&Ls include all of the following EXCEPT
A) they had insufficient funds to close all of the insolvent S&Ls.
B) they were friends with the S&L owners.
C) they hoped the problem would go away.
D) they did not have the authority to close the insolvent S&Ls.
D
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If the price of steel increases drastically, the quantity of steel demanded by the building industry will fall significantly over the long run because
A) buyers of steel are less sensitive to a price change if they have more time to adjust to the price change. B) profits will fall by a greater amount in the long run than in the short run. C) buyers of steel are more sensitive to a price change if they have more time to adjust to the price change. D) sales revenue in the building industry will fall sharply.
The supply curve of a natural resource like oil has a positive slope because
a. the supply becomes closer to exhaustion as demand rises. b. it becomes more costly to find and develop supplies as demand rises. c. rents rise as output increases. d. indirect taxes rise with output.