Which of the following is true?
a. In 2007, the default rate on fixed rate mortgages was lower than that on ARMs
b. From 2006-2008, housing construction decreased in the U.S.
c. Zero-down mortgages decreased the incentive for homeowners to prevent defaulting on their homes.
d. all of the above
d
Economics
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Open-market operations are the tool used least frequently by the Fed to alter the reserves of the banking system.
a. true b. false
Economics
Assume someone organizes all farms in the nation into a single-price monopoly. As a result, the price consumers pay for food
A) does not change, that is, it remains constant. B) falls. C) rises. D) might rise or fall depending on whether the demand for food is elastic or inelastic. E) might rise or fall depending on whether the monopoly's marginal revenue curve lies above or below its demand curve.
Economics