The proportion of income which is earned in the form of wages for labor is currently about
A. 15 percent.
B. 35 percent.
C. 51 percent.
D. 60 percent.
Answer: D
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Which of the following is an example of a highly organized market?
a. the market for textbooks b. the market for spa services c. the market for soybeans d. the market for ice cream
An increase in the number of consumers in a market would cause
A) an increase in quantity demanded. B) an increase in quantity supplied. C) an increase in demand. D) an increase in supply.
The originate-to-distribute business model has a serious ________ problem since the mortgage broker has little incentive to make sure that the mortgagee is a good credit risk
A) principal-agent B) debt deflation C) democratization of credit D) collateralized debt
In 2008, foreclosures reached a record high. Which of the following is NOT a possible reason for foreclosures?
A) Many mortgages were initiated without a down payment. B) Many mortgages were initiated on secondary and investment homes. C) Some mortgages were adjustable rate mortgages which might have dramatically increased monthly payments for some. D) Property values were increasing too fast.