A recent accounting graduate from a major business school is searching for a place to begin his career as an accountant. This individual is
A. structurally unemployed.
B. seasonally unemployed.
C. frictionally unemployed.
D. cyclically unemployed.
Answer: C
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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.
Total utility is best defined by which of the following?
a. The total satisfaction received from consuming a particular amount of a product b. The additional satisfaction received from consuming one more unit of a product c. The maximum amount of satisfaction from consuming a product d. The change in marginal utility multiplied by the price of a product
Figure 14.6 represents the market for health insurance. Suppose there are two types of consumers, low-cost consumers with $2,000 average medical expenses per year, and high-cost customers with $4,000 average medical expenses per year. The insurance companies estimate that 40% of its customers are high-cost type. If the insurance companies set the price equal to their average cost per customer, what is the insurance companies' average cost per customer ($Y)?
A. $4,000 B. $3,400 C. $2,800 D. $2,000
The simple deposit multiplier is:
A) 1/excess reserves. B) 1/reserve requirement. C) 1/deposit requirement. D) none of the above.