Why were the low rates on adjustable-rate mortgages in the early 2000s considered to be teaser rates?
a. because they were very hard to qualify for
b. because they were very easy to qualify for
c. because they were likely to increase after a brief time
d. because they were likely to decrease after a brief time
c. because they were likely to increase after a brief time
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Specialization is another word for
A) pursuing one's comparative advantage. B) the division of labor. C) producing at a comparably lower opportunity cost. D) all of the above. E) none of the above.
A temporary supply shock that raises prices will cause the real interest rate to
A) rise in both the short and long runs. B) rise in the short run but not in the long run. C) fall in both the short and long runs. D) fall in the short run but not in the long run.
Which of the following best describes the relationship between the velocity of money and the demand for money?
a. The demand for money is not related to the velocity of money. b. When the demand for money increases, the velocity of money increases. c. The demand for money must be stable for the velocity of money to increase. d. When the demand for money declines, the velocity of money increases.
Which of the following laws made "closed shops" unlawful?
A) Taft-Hartley Act B) National Industrial Recovery Act C) National Labor Relations Act D) Railway Workers Act