Mortgage amortization is a plan to
A. reduce the borrower's original debt over a specified period of time.
B. increase the borrower's marginal income tax rate over a specified period of time.
C. reduce the borrower's original equity in the home over a specified period of time.
D. pay off exactly 80% of the value of the home over a specified period of time.
Answer: A
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As a country that has a bowed-out production possibilities frontier produces more of one good, the opportunity cost of a unit of that good ________
A) might increase or decrease B) remains the same C) increases D) decreases
Rent seeking
A) is unlikely the more heavily engaged government planners are with the economy. B) is more likely where institutions are strong. C) is not likely to lead to waste and efficiency. D) is more likely when government policy creates something of value that government officials are charged with distributing.
Refer to the below graph of the market for low-skilled labor. Sd is the supply of domestic resident workers, and St is the total supply of labor including undocumented workers. What is the equilibrium wage rate and equilibrium employment if there were no illegal immigration?
A. $14 and 142M, respectively
B. $13 and 135M, respectively
C. $14 and 120M, respectively
D. $17 and 135M, respectively
Which of the following is NOT a disadvantage of controls on capital outflows?
A) The controls may lead to excessive risk taking by the domestic banks. B) They are seldom effective during a crisis. C) Capital flight may increase after they are put in place. D) Controls often lead to an increase in government corruption.