The Payans have just learned that the bank will approve them for a mortgage at an APR of 4.3% for 30 years if they meet the back-end ratio requirement. To determine whether they’ll meet the requirement, the back-end ratio needs to be calculated with the actually monthly payment rather than the estimate used in part A.

Nominal gross domestic producta. is a measure of the overall level of pricesb. measures the value of final goods and services produced within the borders of a given country during a given time period using current pricesc. measures the value of final goods and services produced within the borders of a given country during a given time period corrected for changing pricesd. only changes when the level of output changes

What is an example of a good stock to buy during economic expansion? a) cyclical stock b) defensive stock c) income stock d) bond

Aprice control is: question 1 options: a)a tax on the sale of a good that controls the market price.b)an upper limit on the quantity of some good that can be bought or sold.c)a legal restriction on how high or low a price in a market may go.d)control of the price of a good by the firm that produces it.