Loans made between borrowers and lenders are:
A. usually not taxable at the federal level.
B. legal only in the state of origination.
C. assets of the borrowers.
D. assets of the lenders.
Answer: D
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During the global financial crisis of 2008, as more people started selling their houses in fear of falling house prices, the house prices fell further. This is an example of a(n) ________
A) pecuniary externality B) positive externality C) information cascade D) moral hazard
The government's policy of reducing payments for physicians' services has generated a relative
A) increase in the number of physicians in the program. B) reduction in the number of physicians in the program. C) reduction in the demand for medical services. D) increase in the income of the physicians remaining in the program.