Mortgage loans made to borrowers with a more limited ability to repay are known as
a. subprime mortgages.
b. credit default swaps.
c. leveraged securities.
d. mortgage backed securities.
a
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Use the following diagram to answer the next question.
In the diagram, solid arrows reflect real flows and broken arrows are monetary flows. Flow (8) might represent
A. the services of firefighters. B. automobile purchases by the state of Maine. C. subsidies to farmers. D. personal income taxes.
Choices must be made because of scarcity; people do not have enough time or money to get everything they want
a. True b. False Indicate whether the statement is true or false
Demand elasticity equals quantity times price
a. True b. False Indicate whether the statement is true or false
Suppose there are 100 firms in a market and all are identical. Firm A will hire 20 workers when the wage rate is $10, 25 workers when the wage rate is $9, and 30 workers when the wage rate is $8. The equilibrium wage rate for a number of years has been $9. If the wage rate falls to $8, we know that
A. the quantity demanded for the market will increase to more than 3,000 workers. B. the quantity demanded for the market will increase to less than 3,000 workers. C. the quantity demanded for the market will increase to 3,000 workers. D. the quantity demanded for the market will increase, but we can't tell which of these answers is correct.