Securitization refers to
A) changing the mix in a financial portfolio away from stocks and toward bonds.
B) selling directly to investors loans or securities that were formerly held by financial intermediaries.
C) banks insisting that collateral be supplied on previously unsecured loans.
D) reducing the exposure of a bank's portfolio to interest rate risk.
B
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What two basic ideas led to American preeminence in nineteenth-century manufacturing?
a. interchangeable parts and the right of incorporation b. continuous-process manufacturing, and the breast water wheel c. water frame spinning machines and the use of interchangeable parts d. interchangeable parts and continuous-process manufacturing
Which of the following is NOT a characteristic of a perfectly competitive long-run equilibrium?
A) Firms are earning zero profits. B) Price equals marginal cost. C) Price equals long-run minimum average cost. D) Firms are producing on the downward sloping portions of their short-run average cost curves.