A mortgage loan made to a borrower with a low credit score is called a:
A. prime mortgage.
B. hi-risk mortgage loan.
C. bundled financial loan.
D. subprime mortgage.
D. subprime mortgage.
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Which of the following is never negative?
a. marginal product b. average product c. production elasticity d. marginal rate of technical substitution e. slope of the isocost lines
Refer to Figure 17.1. Which of these will hold true if the manager is given a budget of $155?
A. She should produce 8 units of output to maximize output for the budget. B. She should try to produce 9 units of output because average costs are minimized. C. She should lobby her boss for more money. D. She should produce 6 units of output because profits are maximized.
Which of the following is an effect of an increase in the price level in an economy?
What will be an ideal response?
A price ceiling is non-binding when:
A. it is set above the equilibrium price. B. it reduces the output in a market. C. it increases the output in a market. D. it is set below the equilibrium price.