Compared to the traditional mortgage amortization schedule, "interest-only" mortgages and "negative-amortization" mortgages require
A. larger principal payments later in the mortgage.
B. no principal payments later in the mortgage.
C. constant principal payments later in the mortgage.
D. smaller principal payments later in the mortgage.
Answer: A
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Robert received a $100 gift certificate to a bookstore a year ago. The economy has been in an inflationary period for the last year. This gift certificate is
A) expressed in real terms and is worth more. B) expressed in nominal terms and is worth less. C) not expressed in either real or nominal terms since it is not money. D) adjusted in terms of the CPI.
If an individual requires a bag full of cash to buy a pound of cake, then the currency is: a. not recognized as a medium of exchange. b. not performing well as a store of value. c. not performing as a unit of account
d. performing well as a commodity.
Which of the following are illegal under the antitrust laws of the United States?
a. charging prices that exceed average total costs b. charging some consumers different prices than others c. mergers that unnecessarily create excessively large firms d. collusive behavior or other actions designed to create a monopoly or cartel
Labor (# of employees)Total Output0011025031104160520062307255827592901030011305Assume the table shown is for a hat factory, and shows the total production of hats given various numbers of employees. Diminishing marginal product sets in with the:
A. third worker. B. fifth worker. C. fourth worker. D. second worker.