A ____________________ loan is a nontraditional mortgage loan granted to persons who have some factor, such as low credit ratings, which suggest that they could default on the repayment of their debt
A) mortgage-backed security
B) collateralized
C) subprime mortgage
D) risk-based mortgage
C
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In the figure above, an increase in the U.S. interest rate relative to that in Canada shifts the demand curve for U.S. dollars ________ and shifts the supply curve of U.S. dollars ________
A) leftward; leftward B) leftward; rightward C) rightward; leftward D) rightward; rightward
One year ago, Ms. Case and Mr. Bond opened a jewelry store called T & J. They invested $1,000,000 of their savings into the partnership to buy equipment and initial inventory
They rented a building for $90,000 a year, and hired two employees for an annual wage of $40,000 each. Case and Bond believed that the best alternative investment of their money would be government bonds, which could yield an annual return of 8 percent. To run the store, Case quit her previous job, at which she earned $100,000, but her former boss told her that she was welcome to return anytime. Bond kept his job with the government, but gave up 6 hours of leisure each week (for 50 weeks), the time he used to spend playing golf. Bond used to say: "I'd only give up my golf time if someone paid me $100 an hour." During the first year of operation, T & J paid $20,000 for utilities and the firm's total revenue was $350,000. The market value of T & J's equipment was $200,000 at the beginning of the year and $170,000 at the end of the year. a) What is the economic depreciation of their capital? b) What are T & J's opportunity costs? c) What is the firm's economic profit in the first year of operation?
Employing Figure 4-3 above, the initial equilibrium is point D and government expenditures increase by ________ shifting the IS curve from IS0 to IS1 and crowding out is approximately ________
A) 500, 500 B) 250, 500 C) 1000, 1000 D) 1000, 250
A natural gas monopoly currently sells 100 cubic feet of gas at $1.10 per cubic foot. To sell one more cubic foot, the natural gas company must lower the price of gas to $1.09 . Which of the following best describes the marginal revenue of the 101st cubic foot of natural gas? a. The marginal revenue equals the price, or $1.09
b. The marginal revenue equals the change in price, or $ 0.01. c. The marginal revenue is less than $1.09. d. The marginal revenue is greater than $1.09.