Subprime mortgages
A) are loans covered by reserve requirements of commercial banks.
B) are home loans backed by the Treasury.
C) are home loans given to individuals without credit to meet the loan requirements.
D) none of these choices.
C
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In 1980, the U.S. budget was ________, private saving was ________ domestic investment, and foreign borrowing was ________
A) in deficit, higher than, not needed to finance deficit B) balanced, roughly equal to, not needed to finance deficit C) balanced, less than, substantial. D) surplus, greater, negligible
The change in net benefits that arises from a one-unit change in quantity is the:
A. present value benefits. B. marginal net benefits. C. total net benefits. D. variable benefits.
If the four-firm concentration ratio for an industry is 84 percent, then
A) each of the firms account for 21 percent of total sales. B) the four largest firms in the industry account for 16 percent of the total sales. C) the four largest firms in the industry account for 84 percent of the total sales. D) the remaining firms in the industry accounts for 84 percent of the total sales.
To pursue higher rates of economic growth only when the advantages of the policy outweigh the sacrifices that must be made is an example of the:
A. principle of comparative advantage B. principle of increasing opportunity costs C. scarcity principle D. cost-benefit principle