The secondary mortgage market is the market
a. designated specifically for prime and other low risk mortgages.
b. designated specifically for sub-prime and other high risk mortgages.
c. where mortgages originated by a lender are sold to another financial institution.
d. where home purchasers borrow funds from mortgage originators.
C
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Which of the following is a rationale for development planning?
(a) government failure. (b) market failure. (c) failure of consumers to understand their preferences. (d) all of the above are rationales for development planning. (e) none of the above are rationales for development planning.
Which of the following statements about price wars is true?
A. Firms that have to deal with the possibility of price wars often have extremely flexible prices. B. Firms that do not have to deal with the possibility of price wars often have sticky prices. C. Price wars tend to increase the short-run flexibility of prices. D. Firms that have to deal with the possibility of price wars often have sticky prices.