The "exotic" mortgage instrument of recent years is exemplified by the
A. "traditional" mortgage.
B. "magical-mystery" mortgage.
C. "interest-only" mortgage.
D. bank mortgage loan.
Answer: C
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In long-run macroeconomic equilibrium
A) real GDP equals potential GDP. B) the price level is fixed and aggregate demand determines real GDP. C) real GDP and the price level are determined by short-run aggregate supply and aggregate demand and long-run aggregate supply is irrelevant. D) real GDP is less than potential GDP.
If the demand for a product increases and the supply of the product does not change, equilibrium price and equilibrium quantity will both increase
Indicate whether the statement is true or false
Refer to the table below. What is Gorgeous Sands Resort's long-run average cost?
The table above summarizes Gorgeous Sands Resort's marginal capacity cost, marginal operating cost, peak marginal revenue, off-peak marginal revenue, and its peak and off-peak demand for its resort units.
A) $6,000
B) $1,000
C) $3,000
D) $5,000
Pension funds resemble insurance companies by:
A. becoming better investments the longer you live. B. spreading risk. C. accepting deposits. D. pooling the savings of only large investors.