A mortgage that allows the borrower to choose the monthly payment for a few years is a
A. credit-default swap.
B. "liar loan."
C. pay-option adjustable-rate mortgage.
D. traditional, thirty-year fixed-rate mortgage.
Answer: C
Economics
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Refer to Figure 10-1. When the price of hoagies increases from $5.00 to $5.75, quantity demanded decreases from Q1 to Q0. This change in quantity demanded is due to
A) the fact that marginal willingness to pay falls. B) the law of diminishing marginal utility. C) the income and substitution effects. D) the price and output effects.
Economics
What are beliefs about what is right and wrong or good and bad called?
A) motivators B) rules C) cultures D) ethics E) laws
Economics