Which of the following was not a factor that contributed to the subprime mortgage crisis?
a. false security derived from FDIC insurance on mortgage loans
b. lower down payments
c. households devoting 25% or more of their income to mortgage payments
d. lending to households with adverse credit ratings
a
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Use the information in the table below.Total salesIndustry 1Firm 1$5.3mFirm 2$199,000Firm 3$2.6mFirm 4$850,000What percent of total sales does Firm 4 make up in Industry 1?
A. 8.5% B. 59% C. 29% D. 9%
The market system works by getting each person, motivated by his or her own self-interest, to produce products for other people
Indicate whether the statement is true or false
To maximize profits, a firm should produce output up to the point where
A. marginal revenue equals marginal cost. B. price equals marginal revenue. C. the gap between the demand curve and the ATC is the greatest. D. None of the choices are correct.
Imports are products produced in the home country and sold in another country.
Answer the following statement true (T) or false (F)