The "housing bubble" discussed in the text book refers to:
A. housing prices rising much more quickly than the rest of prices in the economy.
B. housing prices within a certain area of the U.S. rising disproportionately with the rest of houses in the economy.
C. an unexplained increase in the demand for houses which caused the prices of houses to rise.
D. a supply shock to the housing market, which caused housing prices to increase.
A. housing prices rising much more quickly than the rest of prices in the economy.
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The discretionary change of government expenditures or taxes to achieve national economic goals is
A) a direct expenditure upset. B) fiscal policy. C) Ricardian-equivalence theorem. D) supply-side economics.
Which of the following is NOT a financial asset?
A) a bond issued by Google B) Wells Fargo Bank C) a home mortgage loan D) a certificate of deposit