The institutions that bring together savers, borrowers, investors, and insurers in a set of interconnected markets where people trade financial products is called the:
A. market for interest rates.
B. money system.
C. financial system.
D. market for loanable funds.
Answer: C
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The monopolist is always constrained by:
A. government regulation. B. his production capacity. C. the barriers to entry. D. the amount demanders are willing to buy at any given price.
If the marginal cost of producing steel exceeds the marginal utility of using steel, then for economic efficiency,
A. the price of steel should fall. B. society should produce less steel. C. the price of goods made with steel should fall. D. society should direct resources toward steel production and away from the production of other goods.
Consumer surplus arises in a market because
A. at the current market price, quantity demanded is greater than quantity supplied. B. the market price is higher than what some consumers are willing to pay for the product. C. the market price is below what some consumers are willing to pay for the product. D. at the current market price, quantity supplied is greater than quantity demanded.
Companies issue stock because of all of the following except:
A. it allows the owners to raise capital without having to borrow. B. it allows the owners to turn an illiquid asset into a liquid one. C. it allows the owners to share the risk of failure. D. it allows companies to file bankruptcy.