Collateralizable wealth is
A) wealth in non-tangible assets.
B) any asset that can be used to obtain a loan.
C) wealth that increases and income increases.
D) wealth based on mortgage lending.
B
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The graph illustrates the market for British pounds, the currency of the United Kingdom. As the number of buyers of pounds decreases and the number of sellers of pounds increases, the equilibrium price of a pound
A) will remain the same. B) will rise. C) will fall D) might rise, fall, or remain the same but more information is needed. E) will rise if the magnitude of the effect on the buyers is larger than the magnitude of the effect on the sellers.
Unbridled self-interest fails to coordinate resource flows most effectively in which of the following cases?
A. The building of a tornado warning siren. B. The production of haircuts. C. The production of bread. D. The production of cars.