Which of the following is true?
a. In 2007, the default rate on fixed rate mortgages was lower than that on ARMs
b. From 2006-2008, housing construction decreased in the U.S.
c. Zero-down mortgages decreased the incentive for homeowners to prevent defaulting on their homes.
d. all of the above
d
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Assume foreign beer is a normal good. If the incomes of demanders decreases,
A) the demand for foreign beer will increase. B) the quantity supplied of foreign beer will increase. C) the market output of foreign beer will increase. D) all of the above will occur. E) none of the above will occur.
Under a relative concept of poverty, poverty
A. doesn’t really exist. B. is higher in rich countries than in poor countries. C. can never be wholly eliminated by public policy. D. declines as technology advances.
The concept of______________ is central to the estimation of market value, primarily because it serves as the foundation for identifying comparable properties
Fill in the blank(s) with the appropriate word(s).
Explain each of the following: (1 ) constant returns to scale; (2 ) decreasing returns to capital; and (3 ) decreasing returns to labor
What will be an ideal response?