Which of the following was not a typical characteristic of subprime mortgages?
A. Low down payments
B. Loans to borrowers with poor credit histories
C. Limited incomes with which to make loan payments
D. Fixed interest rates
Answer: D
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What is the equation of exchange? Suppose that real GDP and velocity are constant. In this case, what effect will an increase in the quantity of money have?
What will be an ideal response?
Graphically, producer surplus is the area under the
A) demand curve and above the supply curve, up to the relevant quantity. B) price and above the demand curve, up to the relevant quantity. C) price and above the supply curve, up to the relevant quantity. D) price and above the quantity axis, up to the relevant quantity. E) demand curve and above the price, up to the relevant quantity.
Automatic stabilizers drive changes in
a. the total deficit. b. the cyclical deficit. c. the structural deficit. d. monetary policy. e. both b and c.
In which market structure do firms consider the actions of their rivals when setting prices and output?
a. monopoly b. oligopoly c. perfect competition d. both monopoly and perfect competition e. monopolistic competition