A commercial bank is defined as
A) any institution that accepts deposits.
B) a firm that is chartered to accept deposits and make loans.
C) the institution that sets regulations for commercial activities.
D) a firm that obtains funds by selling shares and then buys U.S. Treasury bills.
E) any institution that makes loans.
B
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All of the following are preconditions for economic growth EXCEPT
i. property rights. ii. democracy. iii. free markets. A) i only B) ii only C) iii only D) Both i and ii E) i, ii, and iii
In the above figure, if the minimum wage is equal to ________, there would be ________ hours of labor employed
A) $8 per hour; 4,000 B) $8 per hour; 2,000 C) $6 per hour; 3,000 D) $4 per hour; 2,000
The job finding rate is defined as
A) the probability that someone who has been unemployed for over a year will find a job in the next month. B) the probability that someone who is not in the labor force will enter the labor force in the next month. C) the probability that someone who is employed will change jobs in the next month. D) the probability that someone who is unemployed will find a job in the next month.
Trade is promoted by
A) having a self-interested population. B) proper incentives. C) the presence of property rights. D) all of these choices.