In the 1950s, a traditional, thirty-year fixed-rate mortgage would typically have been
A. available to the borrower without a down payment and without documentation of income.
B. securitized and sold to a consortium of foreign investors.
C. held by the original lender or banker until it was paid off.
D. all of the options are correct.
Answer: C
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If the Luddites had succeeded in ________ the introduction of labor-saving machinery, economic growth in Great Britain may have been ________.
A. blocking; more rapid B. blocking; slower C. promoting; slower D. promoting; more rapid
In 1984, the National Minimum Drinking Age Act was passed, raising the legal age to consume alcoholic beverages in the United States to 21. In much of Europe, the legal age to consume alcohol is 18
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The marginal utilities associated with the first 5 units of consumption of good Y are 15, 15, 10, 7, and 3, respectively. What is the total utility associated with those 5 units?
a. 5. b. ?12. c. 12. d. 35. e. 50.
Suppose a state has the following individual income tax structure.The first $20,000 that an individual earns is taxed at 5%. The next $30,000 is taxed at 10%. Any income exceeding $50,000 is taxed at 20%.Based on this tax structure, if a person's income is equal to $60,000 . his average tax rate is equal to:
a. 15% b. 10% c. 11.67% d. 20%