When the housing bubble occurred it can be attributed to all of the following except:
A. people expected housing prices to continue to rise.
B. it became easier to leverage more of a home's value, putting buyers more into debt.
C. the seller of the mortgage had lost incentive to properly assess the risk.
D. homeowners lack of confidence in the institutions who made the loan to them.
D. homeowners lack of confidence in the institutions who made the loan to them.
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Because the smallcountry monopolist loses the ability to control the market price, consumers enjoy more quantity, competitive prices, and:
a. a bonus because the foreign goods are of higher quality. b. a loss because the monopoly loses profits. c. higher consumer surplus because the monopolist's producer surplus is reduced. d. a loss because now unions have less power than before.
In the figure above, the curve labeled "W" can be a
A) monopoly's demand curve. B) monopoly's marginal revenue curve. C) perfectly competitive firm's demand curve. D) perfectly competitive firm's marginal revenue curve.