Alt-A mortgages are
A) mortgages issued to borrowers who fail to document that their incomes are high enough to afford their mortgages.
B) mortgages which are bundled together by financial institutions and sold to investors.
C) mortgages issued to borrowers with flawed credit histories.
D) government-backed mortgages issued by Fannie Mae and Freddie Mac.
Answer: A
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U.S. exports
a. represent approximately 50 percent of GDP b. represent approximately 35 percent of GDP c. represent approximately 11 percent of GDP d. consist primarily of agricultural commodities e. consist primarily of metals and other raw materials
At the beginning of a year, decision makers expect the general level of prices to increase at a 3 percent annual rate. The CPI increases from 150 to 154.5 during the year; this is an example of
a. an inflation rate that is equal to 4.5 percent. b. an unanticipated increase in the general level of prices. c. an increase in the general level of prices that was accurately anticipated. d. an inflation rate that is less than what people anticipated.
Which of the following is best characterized as a public good?
A. a public library B. primary education C. police protection D. a church
Refer to Cost of Production. The short-run total cost of producing 50 units of output per week is $180, but the long-run total cost is
The following questions refer to the diagram below. The wage rate is assumed to be $12 per hour, the rental rate is assumed to be $6 per hour, and capital is assumed to be fixed in the short run at 10 hours.
a. $180.
b. $270.
c. $300.
d. $900.