To prevent bank runs and the consequent bank failures, the United States established the ________ in 1934 to provide deposit insurance

A sudden rise in the market demand in a competitive industry leads to

a. A short run market equilibrium price lower than the original equilibrium b. A market equilibrium lower than the short run price c. Some firms exiting the market d. All of the above

The causes of the skyrocketing mortgage default rates that triggered the financial crisis in 2007-2008 include the following, except:

A. Mortgage lending became very lax B. Many people took on mortgages that they were simply incapable of repaying C. Housing price increased drastically D. Real estate values started declining after having risen for many years