In the early 2000s, laws requiring banks and mortgage brokers to disclose the terms of home loans:
A. prevented Americans from entering into mortgage contracts that they did not understand.
B. were an example of how the government can act to solve the moral hazard problem.
C. were so numerous and detailed that borrowers didn't read or understand the information the companies had disclosed.
D. reduced statistical discrimination in the home mortgage market.
C. were so numerous and detailed that borrowers didn't read or understand the information the companies had disclosed.
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The largest single traded good (by value) in recent years has been
A) automobiles. B) wheat. C) televisions, stereos, and VCRs. D) steel.
Refer to the graph below. A movement from point C to point D on the Laffer Curve represents:
A. Increased tax rates from T2 to T3 and increased tax revenues from R2 to R3
B. Decreased tax rates from T3 to T2 and increased tax revenues from R2 to R3
C. Decreased tax rates from T3 to T2 and decreased tax revenues from R3 to R2
D. Increased tax rates from T2 to T3 and decreased tax revenues from R3 to R2