The process by which banks screen potential applicants by eliminating bad risks and to obtain a pool of creditworthy borrowers is called:

Costs that a firm remaining in business will still incur even if it halts current production are called

a. fixed costs. b. variable costs. c. implicit costs. d. explicit costs.

If the price elasticity of demand for a product is equal to 0.5, then a 10 percent decrease in price will:

A. increase quantity demanded by 0.5 percent. B. decrease quantity demanded by 5 percent. C. decrease quantity demanded by 0.5 percent. D. increase quantity demanded by 5 percent.