<u>d.) Title insurance</u> is one of the fees that is paid at the closing of a home purchase when it is finalized.
There are two types of title insurance.
1) Lender's Policy Title Insurance - this is an insurance to assure the lender the you own the home and that the mortgage applied is a valid lien. This happens when you buy a house through bank financing.
2) Owner's Policy Title Insurance - this is an insurance policy that protects you as the owner of the house when third party contests your ownership of the house.
Move the Mouse around and Press any key on the keyboard. Well I’m just referring to that because that’s how my computer works
Answer:
B) dividing the change in total cost by the change in output
Explanation:
Marginal cost(MC) is the cost incurred as a result of producing additional units of goods and services. It is calculated by dividing a change in total cost by a change in output.
That is,
Marginal cost(MC)= change in total cost(TC)/ change in output
Total cost(TC): This is the addition of fixed and variable cost in production.
Total cost(TC)= fixed cost (FC)+variable cost (VC)
Fixed cost (FC) are cost that doesn't change during the production process such as buildings, machineries and furniture.
Variable cost (VC) are cost that changes or are used up during production process such as raw materials.
Answer:
C) the nominal value of aggregate income is determined
Explanation:
The quantity theory of money states that nominal aggregate income is determined by money supply. It is assumed that money velocity is constant in the short run and so would not impact nominal aggregate income.
The quantity theory of money is obtained from the equation of exchange which is:
(Money supply × velocity ) = (price × agregrate output)
Dividing both sides by velocity gives,
Money supply = (1/velocity) × ( price × agregrate output)
It is assumed velocity is constant, therefore,
Money supply = k × (price × agregrate output)
I hope my answer helps.
All the best
When an individual weighs her options and makes a choice that maximizes her benefit at the minimum cost, economists refer to this as a process of... rational decision making. You just studied 8 terms!
