Recall the Application about low-price guarantees and the prices of tires to answer the following question(s).Recall the Application. From a pricing standpoint, low-price guarantees seem to benefit:
A. the buyer.
B. the seller.
C. both the buyer and the seller.
D. neither the buyer nor the seller.
Answer: B
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The key interest rate in the Eurocurrency market is the
A) London interbank offer rate. B) Eurobank spread rate. C) Prime rate. D) C.D. rate.
An improvement in the technology for producing a good will shift the supply curve for that good to the left.
Answer the following statement true (T) or false (F)
Fannie Mae and Freddie Mac's rapid increase in the percentage of all mortgages held encouraged mortgage lenders to
a. tighten credit standards and decrease the number of sub-prime loans extended to borrowers. b. offer lower rates than what Fannie Mae and Freddie Mac could offer. c. lower credit standards and offer terms acceptable to Fannie Mae and Freddie Mac. d. scrutinize the credit-worthiness of borrowers and require higher down payments on mortgages.
Which of the following statements about recessions is true?
a. An old rule of thumb defining recession is two consecutive quarters of falling nominal GDP. b. Recessions occur at regular intervals and last standard amounts of time. c. There is no ironclad rule for the declaration of recessions. d. Recessions are associated with low unemployment and high income.