Subprime mortgages are mortgage loans:
A. made to borrowers with low credit scores.
B. that have less than prime interest rates.
C. made to borrowers with higher than average credit scores.
D. made at lower than general market interest rates.
A. made to borrowers with low credit scores.
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Using the data in the above table, in the short-run macroeconomic equilibrium, there is
A) an inflationary gap of $1 trillion. B) an inflationary gap of $2 trillion. C) a recessionary gap of $1 trillion. D) a recessionary gap of $2 trillion.
In a production possibilities frontier model, a point ________ the frontier is productively inefficient
A) outside B) at either intercept of C) inside D) along
The range to the left of the midpoint on a linear demand curve is
A) elastic. B) infinite. C) one. D) inelastic.
For years, Intel was able to charge a higher price for microchips because:
a. it had a higher quality product than its rivals. b. it spent less on advertising than its rivals. c. consumers knew that Intel had the best employees. d. Intel relied more on foreign labor. e. of its successful product differentiation.