Standby letters of credit
A) are a form of swaps.
B) are a promise by a bank to lend the borrower funds to pay off its maturing commercial paper.
C) are a promise by a large depositor to provide additional funds to a bank should the bank face an unexpectedly large deposit outflow.
D) represent the unused balance on a bank credit card.
B
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Use the figure below to answer the following question.
An increase in price, all else held constant, would cause a change from
A. point 4 to point 5. B. point 1 to point 3. C. point 3 to point 4. D. point 5 to point 1.
The real wage rate measures the
A) quantity of goods and services that an hour of work will buy. B) average weekly earnings in dollars of a worker. C) dollar value of an hour of work. D) dollar value of what a worker could earn in another job.
The value of zero is used to distinguish between elastic and inelastic price elasticity of demand for a product; so, if the elasticity is greater than zero, it is elastic and if it is less than zero, then it is inelastic.
Answer the following statement true (T) or false (F)
Suppose there is a technological change and the government does not intervene in the