The basic purpose of financial markets is:
A. match people who want money to spend now with people who want to save their money for later.
B. buy and sell different currencies in order to make a profit.
C. sell commodities to firms as inputs.
D. buy commodities from firms and the government to sell to the public.
A. match people who want money to spend now with people who want to save their money for later.
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When the price level in the United States falls relative to the price level of other countries, ________ will fall, ________ will rise, and ________ will rise
A) exports; imports; net exports B) net exports; imports; exports C) net exports; exports; imports D) imports; exports; net exports
Which of the following is the formula for the elasticity of Y with respect to X?
A. E = (percent change in Y)/( percent change in X) B. E = (percent change in X)/(percent change in Y) C. E = (change in Y)/(change in X) D. E = (change in X)/(change in Y)
It is assumed in standard economic theory that a firm makes decisions in an effort to
A) have a highly diversified product. B) become as large as possible. C) maximize its profits. D) maximize its revenue. E) be favoured politically.
If this is a closed economy, the price of a TV will be ________.
A. $125 B. $275 C. $175 D. $75