The provision of funds to the mortgage market through the purchase of mortgage-backed securities and mortgages is performed by ________
A) Fannie Mae and Freddie Mac
B) the Federal Housing Administration
C) the Federal Reserve System
D) subprime borrowers
A
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Summarize the effects of a production quota on the market price and the quantity produced
What will be an ideal response?
If Mort's House of Flowers sells one dozen roses to different customers at different prices, economists would consider this an example of
A) rational ignorance. B) price discrimination. C) price gouging. D) arbitrage.
If the marginal cost curve of all identical firms in a perfectly competitive industry are horizontal at the same per-unit cost, then the market's consumer surplus equals the area
A) beneath the demand curve and above the marginal cost curve. B) above the demand curve and beneath the marginal cost curve. C) below the marginal cost curve. D) above the demand curve.
The term compensating wage differential refers to:
a. the bargaining capacity of a monoposonist in the labor market. b. the wage differences that arise from differences in the risk involved in different jobs. c. the criteria on which a firm offers a 401K plan to all its employees or just some employees. d. the wage differences that arise from difference in productivity of the workers in a firm. e. the negotiating power of the trade union.