Creditors require collateral in many cases, because
A) it helps offset the risks of lending the funds.
B) the borrower is a low risk.
C) the loan is small.
D) none of the above.
A
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The price of cereal rises. As a result, people have cereal for breakfast on fewer days and eat eggs instead. This behavior is an example of
A) a decrease in the quantity demanded of cereal because of the substitution effect. B) an increase in the quantity demanded of eggs because of the income effect. C) a decrease in the quantity supplied of cereal because of the substitution effect. D) an increase in the quantity supplied of eggs because of the income effect.
Why do economists mostly use optimization in differences, as opposed to optimization in levels?
What will be an ideal response?
Americans who benefit from immigration include
a. firms that hire immigrants. b. workers whose skills are complementary with immigrants' skills. c. consumers who purchase goods produced using immigrants labor. d. property owners who own land in immigrant neighborhoods. e. All of the above.
The demand for a product is inelastic with respect to price if:
A. consumers are largely unresponsive to a per unit price change. B. the elasticity coefficient is greater than 1. C. a drop in price is accompanied by a decrease in the quantity demanded. D. a drop in price is accompanied by an increase in the quantity demanded.