Since 1995, federal regulations have
a. tightened mortgage lending standards and therefore made it difficult to obtain a loan to purchase a house.
b. increased the down payment housing buyers are required to make in order to obtain a mortgage loan.
c. loosened lending standards and made it possible for many buyers to purchase a house with little or no down payment.
d. required investment banks to maintain more capital against their holdings of mortgage loans.
C
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The quantity demanded of a good is:
A) the amount of a good that sellers are willing to supply at a given market price. B) determined independent of the market price. C) always determined by government intervention. D) the amount of a good that buyers are willing to purchase at a given market price.
At the XYZ Co, a unit of capital costs three times as much as a unit of labor. If the isoquants are convex, and the firm does not change its input mix in the long run, we can conclude that
A) MPK = 3 ? MPL . B) the firm will not hire any capital. C) the firm will hire 3 times as much labor as capital. D) the firm will hire 3 times as much capital as labor.