A "secured" loan is one
A) with no stated collateral.
B) that is pending approval by a bank loan committee.
C) which has collateral.
D) in which the borrower is delinquent in loan payments but has not formally defaulted on.
C
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Avner is maximizing total utility by buying sports magazines and protein supplements. For him to buy more sports magazines
A) the price of sports magazines has to fall. B) the price of sports magazines has to rise. C) the price of protein supplements. has to fall. D) Since Avner is maximizing his utility, nothing can change the consumption of sports magazines.
Why is it difficult to determine whether fluctuations in the target interest rate have led to business cycle fluctuations in the United States, according to the New Keynesian model?
A) Because the Federal Reserve may change the target interest rate according to economic conditions. B) Because the target interest rate is nominal, not real. C) Because inflation is not well measured. D) Because money is neutral.