A ________ pays out cash flows from a collection of assets in different tranches, with the highest-rated tranch paying out first, while lower ones paid out less if there are losses on the underlying assets
A) collateralized debt obligation (CDO)
B) adjustable-rate mortgage
C) negotiable CD
D) discount bond
A
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Regardless of quantity in long-run equilibrium, the industry price cannot exceed the
A. long-run average cost of supplying that quantity. B. total variable cost of supplying that quantity. C. long-run total cost of supplying that quantity. D. minimum long-run marginal cost of supplying that quantity.
National income can be calculated by subtracting
a. depreciation from GDP. b. indirect business taxes from GDP. c. depreciation and indirect business taxes from GDP. d. transfer payments and taxes from GDP.
By far the largest EU exporter and importer is
a. France b. The Netherlands c. Germany d. The United Kingdom
Michael values a stainless steel refrigerator for his new house at $3,500, but he succeeds in buying one for $3,000 . Michael's consumer surplus is
a. $500. b. $3,000. c. $3,500. d. $6,500.