By the 2000s, an important change in the mortgage market had occurred when ________ became significant participants in the secondary market for mortgages by buying, bundling, and reselling mortgages as mortgage-backed securities
A) commercial banks
B) investment banks
C) financial markets
D) foreign governments
B
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Suppose the following information describes the economy:Household saving300Business saving700Government purchases1,000Government transfers and interest payments500Government tax collections1,500GDP5,000Private saving equals ____and national saving equals ________.
A. 1,000; 1,000 B. 700; 0 C. 1,000; 2,000 D. 300; -200
If society allows firms to freely pollute the environment, then which of the following is true?
a. Market equilibrium output will be equivalent to the efficient output level. b. Market equilibrium output will be too low relative to the efficient output level. c. Market equilibrium output will be too high relative to the efficient output level. d. The efficient output level can be achieved by giving firms a subsidy for the pollution they generate.
Suppose both wages and employment decrease. These changes most likely were caused by:
A. an increase in the working age population. B. a decline in business activity in the economy. C. a decline in immigration. D. an increase in emigration.
Which of the following would NOT allow society to move to point "h" in the above figure?
A. an increase in quantity of capital B. an improvement in technology C. more efficient use of current resources D. an increase in quantity of labor