Collateralizable wealth is
A) wealth in non-tangible assets.
B) any asset that can be used to obtain a loan.
C) wealth that increases and income increases.
D) wealth based on mortgage lending.
B
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Which of the following statements is true about supply?
A. As price decreases, producers are willing and able to put more of the good on the market for sale. B. Supply refers to the amount of inventory that sellers have in their warehouses. C. As price increases, producers are willing and able to put more of the good on the market for sale. D. There is an inverse relationship between price and quantity supplied.
Rational expectations theory is based on the assumption that when individuals in the economy are forming expectations, they
A) use all available information. B) use past evidence only. C) consistently make the same errors. D) pay no attention to past information.
The rule of equating marginal benefit with marginal cost is a tool that can be applied to a wide variety of decisions, not just economics.
Answer the following statement true (T) or false (F)
A negative income tax system is designed to
a. provide in-kind benefits to the poor. b. provide a minimum income to the poor. c. reduce taxes on the rich when their incomes surpass the maximum income tax bracket. d. subsidize food consumption in poor families.