Mortgages issued to borrowers who fail to document that their incomes are high enough to afford their mortgage payments are known as ________ mortgages
A) subprime
B) Alt-A
C) gray market
D) reciprocal
Answer: B
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Lou and Alex live together and share household chores. They like to cook some meals ahead of time and eat leftovers. The table below shows the number of rooms they can each clean and the number of meals they can each cook in an hour. Rooms CleanedPer Hour Meals CookedPer HourLou54Alex33For Alex, the opportunity cost of cleaning one room is making ________ meal(s); for Lou the opportunity cost of cleaning one room is making ________ meal(s).
A. 4; 4 B. 3; 5 C. 1; 4/5 D. 1; 5/4
An item that is purchased to increase businesses' productive resources is
A) an export. B) a government good. C) a capital good. D) a consumption good. E) a productive good.
In the balance of payments, the settlement account
a. must exactly offset the net deficit or surplus in the other accounts. b. often exceeds the net deficit or surplus in the other accounts. c. is often less than the net deficit or surplus in the other accounts. d. is unrelated to the net deficit or surplus in the other accounts.
Latin American economies have become relatively more closed to international trade since 1985
Indicate whether the statement is true or false