Which of the following events will leave GDP unchanged?
a. You purchase 100 shares of Wal-Mart stock.
b. You pay $500 to repair the damage done to your car by an uninsured motorist.
c. You decide to work five more hours per week at your job to pay for the repairs performed on your car.
d. You purchase a new car at an auction.
A
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If people expect the economy to do well in the future, they will increase their consumption today at every price level
a. True b. False Indicate whether the statement is true or false
Fannie Mae and Freddie Mac's dominance of the secondary mortgage market during 1995-2008 encouraged mortgage originators to
a. extend only 30-year, fixed-rate mortgages. b. require higher down payments in order to obtain a home mortgage. c. loosen lending standards as long as the mortgages were acceptable to Fannie Mae and Freddie Mac. d. scrutinize the credit-worthiness of borrowers more carefully.