By the 2000s, an important change in the mortgage market had occurred when ________ became significant participants in the secondary market for mortgages
A) investment banks
B) Federal Reserve Banks
C) commercial banks
D) savings banks
Answer: A
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The Fed purchases $1 million of U.S. government securities from First Bank. The desired reserve ratio is 10 percent, the currency drain ratio is zero, and banks loan all excess reserves
The Fed's purchase increases First Bank's excess reserves by how much? A) $900,000 B) $1,000,000 C) $1,100,000 D) $10,000,000 E) $100,000
Refer to the payoff matrix below. If Cruise R Us uses a mixed strategy, what probability for offering Specials should the firm use to equate Cruise the World's expected profits from offering a Special or not offering a special (No Special)?
Cruise R Us and Cruise the World compete in the cruise line industry. Each firm needs to determine if they are going to offer special cruise packages with special rates or not offer the specials. The above payoff matrix shows the firms' net economic profit for each set of strategies.
A) 0.33 B) 0.25 C) 0.75 D) 0.50
What happens to total revenue given a price increase and demand is inelastic? Why?
Consider the following simple regression model y = 
0 + 1x1 + u. Suppose z is an instrument for x.
Which of the following statements is true?
A. The condition Cov(z,u) = 0 can be tested statistically.
B. The condition Cov(z,x) 
0 cannot be tested statistically.
C. The instrumental variables estimator is always biased if Cov(x,u) 
0.
D. The ordinary least squares estimator is unbiased if Cov(x,u) 
0 .