Which of the following groups would most likely to benefit from inflation?
A. Borrowers
B. Lenders
C. Creditors
D. Pensioners
Answer: A
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In the Cournot model, if the products are differentiated,
A) this reduces the pressure of one firm's decisions on the other. B) this increases the pressure of one firm's decisions on the other. C) there is no difference between this model and one with homogeneous goods. D) marginal costs are necessarily different.
When the factor market is purely competitive, the firm's average expenditure curve for a factor of production is
A) upward sloping and to the right of the marginal expenditure curve. B) downward sloping and to the right of the marginal expenditure curve. C) identical to the marginal expenditure curve. D) downward sloping and to the left of the marginal expenditure curve.
Because of securitization, a new class of residential mortgages offered to borrowers with less-than-stellar credit records developed. These mortgages are known as
A) risk-enhanced mortgages. B) subprime mortgages. C) bundled mortgages. D) adjustable-rate mortgages.
The official unemployment rate may not reflect the true state of unemployment because: a. Some workers may go through the motions of looking for work to keep their unemployment benefits, but not actually be looking for work. b. Some people who are working in the underground economy may be classified as unemployed
c. Some may leave the labor force and go back to school only because job conditions are currently poor. d. all of the above.