Mortgages issued to borrowers who fail to document that their incomes are high enough to afford their mortgage payments are known as ________ mortgages
A) reciprocal B) Alt-A C) gray market D) subprime
B
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In recent years, Taiwan has experienced increases in savings and investment. As a result of the higher investment and saving, we expect
i. increases in physical capital. ii. increases in the inflation rate. iii. advances in technology. A) i, ii and iii B) ii and iii C) ii only D) i and iii E) i and ii
Refer to Table 27-1. Consider the hypothetical information in the table above for potential real GDP, real GDP, and the price level in 2016 and in 2017 if Congress and the president do not use fiscal policy
If Congress and the president want to keep real GDP at its potential level in 2017, they should A) increase the level of interest rates. B) decrease the money supply. C) decrease government purchases. D) decrease income taxes.
If Germany can make compact cars more efficiently than Russia, it enjoys
A. a comparative advantage. B. an absolute advantage. C. no advantage.
Fourteen years ago William put money in his account at First National Bank. William decides to cash in his account and is told that his money has quadrupled. According to the rule of 70, what rate of interest did Alfred earn?
a. 5 percent b. 7 percent c. 10 percent d. 14 percent