Subprime mortgages are mortgage loans:
A. made to borrowers with higher than average credit scores.
B. made to borrowers with low credit scores.
C. that have less than prime interest rates.
D. made at lower than general market interest rates.
Answer: B
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The formula for aggregate expenditure is
A) AE = C + I + depreciation - NX. B) AE = C + I + G. C) AE = C + I + G - NX. D) AE = C + I + G + NX.
In 2014, which type of tax raised the most revenue for the U.S. federal government? Which type of tax raised the most revenue for state and local governments?
What will be an ideal response?
Under the Bretton Woods system, an asymmetry in the ability of central banks to defend their exchange rates existed because
A) a country experiencing a balance of payments surplus was limited in its ability to defend its exchange rate by its stock of international reserves. B) a country experiencing a balance of payments deficit was limited in its ability to defend its exchange rate by its stock of international reserves. C) central banks were allowed by the IMF to adjust their exchange rates upward whenever they chose, but were rarely allowed to adjust their exchange rates downward. D) central banks were allowed by the IMF to adjust their exchange rates downward whenever they chose, but were rarely allowed to adjust their exchange rates upward.
The theory of consumer choice is representative of how consumers make decisions but is not intended to be a literal account of the process
a. True b. False Indicate whether the statement is true or false