Open and explicit agreements concerning pricing and output shares transform an oligopoly into a
A. Differentiated oligopoly.
B. Monopoly.
C. Perfectly competitive firm.
D. Cartel.
Answer: D
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All of the following are points of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 EXCEPT
A) creating a Consumer Financial Protection Bureau. B) requiring mortgage lenders to review income and credit histories of applicants to ensure they can afford payments. C) imposing tighter restrictions on banks to limit risky investments. D) requiring firms that create mortgage backed securities to keep at least 50 percent of their value as reserves.
Recent research up to the crisis proceeded mainly on three fronts. Discuss each of them
What will be an ideal response?
Mortgages issued to borrowers who fail to document that their incomes are high enough to afford their mortgage payments are known as ________ mortgages
A) subprime B) Alt-A C) gray market D) reciprocal
The real-balances effect on aggregate demand suggests that a:
A. Lower price level will decrease the demand for money, decrease interest rates, and increase consumption and investment spending B. Lower price level will decrease the real value of many financial assets and therefore cause an increase in spending C. Lower price level will increase the real value of many financial assets and therefore cause an increase in spending D. Higher price level will increase the real value of many financial assets and therefore cause an increase in spending