How might consumer credit laws contribute to the empowerment of individuals?
A) Seller and lender abuses are reduced under consumer credit laws.
B) Consumers are able to borrow money regardless of their credit history.
C) Lenders can choose not to extend credit to individuals with a poor credit rating.
D) Consumer credit laws prevent individuals from borrowing money, keeping them out of debt.
Answer: A) Seller and lender abuses are reduced under consumer credit laws.
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Given the quantity theory of money demand, a doubling of the money supply will lead to a
A) halving of the velocity of money. B) doubling of the level of real output. C) doubling of the level of nominal output. D) rise in the level of interest rates.
The assumption that firms attempt to maximize profits will yield good predictions even if firms sometimes pursue other goals.
Answer the following statement true (T) or false (F)
The investment function tells us, at any given interest rate
A) how many funds people will invest in the stock market. B) how many funds people will earn on their stock market investments. C) how profitable it will be for firms to expand. D) how much businesses will spend on adding to the capital stock.
An oligopoly market is characterized by limited number of sellers, each having complete control over the market price level as in case of monopoly
Indicate whether the statement is true or false