According to this Application, what is home equity?
A) the difference between the value of homes and the amount of mortgage debt on the property
B) the value of homes less the value of the property on which the homes are sitting
C) the value of homes plus the value of the content in the homes
D) the average retail value of homes listed for sale
A
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The more successful a seller is in inducing buyers to pay the maximum price they would be willing to pay rather than do without the good, the
A) closer will the seller's marginal revenue curve come to the demand curve. B) greater will be the demand for the good. C) more elastic will be the demand for the good. D) more inelastic will be the demand for the good.
New growth theory claims that economic growth occurs because firms reap profits from research and add to the stock of capital
Indicate whether the statement is true or false