Foreclosure is when a:
A. bank takes ownership of a property because the property owner cannot make the mortgage payments due.
B. person is forced to sell his home for less than what he paid for it.
C. person is forced to sell his home for less than what it is currently worth.
D. person is forced to sell his home for less than what he still owes for it.
A. bank takes ownership of a property because the property owner cannot make the mortgage payments due.
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If all the assumptions of perfect competition hold, the result is an efficient, or Pareto optimal, allocation of resources. What is necessary to prove this?
What will be an ideal response?
From uncovered interest parity, we know that when the domestic currency is expected to depreciate, the domestic interest rate should be
A) greater than the foreign interest rate B) greater than the foreign return C) less than the foreign interest rate D) less than the foriegn return
In the above table, the marginal propensity to save when disposable income changes from $5,000 to $6,000 is
A. 0.8. B. -0.2. C. 0.2. D. 0.1.
Which of the following best illustrates the medium of exchange function of money?
A. A person owes $10,000 on his or her credit card. B. The price of a new car is $25,000. C. A penny saved is a penny earned. D. You pay $3 to purchase a bag of apples.