A subprime mortgage is:
a. a mortgage in which the borrower gets an interest rate below the prime rate.
b. a mortgage in which the interest rate is adjustable
c. a mortgage for which the home is valued below its true market value.
d. a mortgage in which the borrower has a poor credit rating.
e. a mortgage for a home that was in foreclosure.
d
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All else constant, a decrease in the level of economic activity in foreign countries could be expected to have an adverse effect on the domestic economy
Indicate whether the statement is true or false
In the short run, the firm's break-even point is:
a. the minimum point of the firm's demand curve. b. the minimum point of the firm's average-total-cost curve. c. the minimum point of the firm's average-variable-cost curve. d. the minimum point of the firm's marginal-cost curve. e. the minimum point on the average-fixed-cost curve.
Suppose labor supply can be described as ES = 0.1w ? 1000 where w is yearly salary. What yearly salary must be paid to encourage 6000 workers to accept jobs?
A. $60,000 B. $30,000 C. $40,000 D. $50,000 E. $70,000
How would each of the following events likely change measured GDP?
a. The sale and use of marijuana is legalized. b. There is an increase in sales of counterfeit video games. c. A foreign-owned furniture manufacturer opens a production facility in South Carolina. d. More people choose to forgo their lawn maintenance services to take care of their own yards.