After new HUD guidelines were issued in 1999, Freddie Mac and Fannie Mae
a. extended fewer loans to borrowers making a down payment of 5 percent or less.
b. extended more loans to borrowers making a down payment of 5 percent or less.
c. extended new loans only to borrowers making a down payment of at least 20 percent.
d. refused to extend new loans without full verification that the borrower had prime credit status.
B
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Use a graph to demonstrate why quotas are likely to cause increased deadweight losses over time
What will be an ideal response?
The Fed
A. is responsible for conducting U.S. fiscal policy. B. has 15 Federal Reserve banks and governing boards in New York and Chicago. C. is responsible for minting coins. D. distributes Federal Reserve notes, which are paper currency.
________ are the things that are used to produce items that satisfy people's wants
A) Concepts B) Production possibilities curves C) Resources D) Costs
The price index that measures the cost of a basket of goods and services bought by firms is called the
a. industrial price index. b. producer price index. c. core price index. d. GDP deflator.