The emergence of mortgage-backed securities provided mortgage brokers with an incentive to seek out only the most creditworthy borrowers
a. True
b. False
Indicate whether the statement is true or false
False
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Scientific methods used to identify environmental health hazards include all of the following EXCEPT
a. case clusters c. problem formulation b. epidemiological studies d. animal bioassays
Danny Sever owns an avocado grove and sells his avocados to wholesalers. Danny has absolutely no ability to select the price. We know then that he
a. will go out of business because price will end up being lower than his costs b. is a price-maker c. is in a monopolistically competitive industry d. cannot maximize profit e. has a horizontal individual demand curve
In the short run, why would a firm in a perfectly competitive market shut down production if the prevailing market price falls below the lowest possible average variable cost?
A. At that point (economic) profit is zero. B. Below that point average revenue becomes less than marginal revenue. C. Below that point marginal revenue becomes insufficient to pay for avoidable average variable cost. D. Below that point other firms with similar cost will find it profitable to enter the market and take away demand from the existing firms.
If you have trouble finding a job because of a slowdown in the overall economy, we would say that you are
A) frictionally unemployed. B) structurally unemployed. C) cyclically unemployed. D) seasonally unemployed.