By the height of the housing bubble in 2005 and early 2006, lenders had greatly loosened the standards for obtaining a mortgage loan, with many mortgages being granted to sub-prime borrowers ________ and Alt-A borrowers ________.
A) with flawed credit histories; who did not document their incomes
B) who borrowed money at rates below the prime interest rate; who had AAA credit ratings
C) who purchased homes in depressed housing markets; who purchased homes which were repossessed by government agencies
D) who borrowed more than 120 percent of the value of the house; with no proof of U.S. citizenship
Question 2
A restaurant sells a large soft drink at a fixed price of 1.79. A term used by economists to describe the money received from the sale of an additional large soft drink is
A) pure profit. B) marginal revenue. C) gross earnings. D) net benefit.
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