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It’s the most important factor that influences quantity supplied
What is the price?
These two institutions owned many subprime loans before the 2008 crash
What are Fannie Mae and Freddie Mac?
This flawless type of market is used as the basic model for all competition
What is perfect competition?
If the supply of savings increases, this number will decrease
What is the interest rate?
The rent paid for a supermarket represents this type of cost
What is a fixed cost?
Firms in imperfectly competitive markets have this goal
What is profit maximization?
Sellers and buyers will have no desire to change their behavior at this level
What is equilibrium?
This 2000s president aimed to increase home ownership in the United States
Who is George W. Bush?
It’s definitely not a rubber band – the Mona Lisa exhibits this rigid property of supply
What is perfectly inelastic supply?
Savings accounts make up this form of money
What is M2?
Supermarkets are fully stocked because of decisions made for this selfish reason
What is self-interest?
This type of monotonous market has just one supplier
What is a monopoly?
Sellers cannot enter markets with this property
What is a barrier to entry?
This type of loan is offered to risky clients
What is a subprime loan?
Life is messy, just like these markets with a single or few suppliers
What are imperfectly competitive markets?
Crowding out occurs when this entity racks up a large deficit
What is the government?
Supermarkets see high school labor as representing this type of cost
What is a variable cost?
It refers to the ability of firms to set market prices
What is market power?
It’s a market with only a few sellers
What is an oligopoly?
Homeowners who owe more than their house is worth have this type of equity
What is negative equity?
If you raise prices of a good with perfectly elastic demand, you’ll sell this quantity
What is zero?
Savers can supply money to other people through these types of institutions
What are financial markets?
Supermarkets represent this almost perfect market with plenty of competition
What is a nearly competitive market?
The firm faces this demand curve in imperfect markets
What is a downward slope?
All costs are this kind of cost, in the long run
What is variable?
These packages of assets consist of many home loans
What are mortgage-backed securities?
If a monopoly can implement this policy perfectly, they will maximize profits
What is price discrimination?
This rate represents the price of saving or borrowing money
What is the real interest rate?
The average supermarket has this many items
What is 33,000?
This 1890 American act sought to combat monopolies
What is the Sherman Anti-Trust Act