In the latter half of the 1990s, the Department of Housing and Urban Development imposed regulations on Fannie Mae and Freddie Mac, requiring them to
a. extend more mortgage loans to households with low and moderate incomes.
b. accept only mortgages with at least a 20 percent down payment.
c. tighten lending standards and increase their holdings of low-risk, conventional mortgages.
d. extend more mortgage loans to households with middle and high incomes.
A
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Efficiency is achieved
A) when output is being produced at a point inside a production possibilities curve. B) when producers are getting the maximum possible output from the available resources. C) when consumers are able to buy everything that they want. D) when prices of all goods and services go to zero.
One way in which antitrust law fosters economic efficiency is by
a. defining property rights for firms b. encouraging voluntary trade c. prohibiting firms from colluding to raise prices d. enforcing contracts between firms e. encouraging mergers that increase market power