Savers who do not want to research the credit-worthiness of borrowers take advantage of ________ finance, where risk is ________
A) direct, spread
B) direct, concentrated
C) indirect, spread
D) indirect, concentrated
C
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Samantha decides to withdraw $10,000 from her savings account and invest it all in the stock market. Her total economic costs
A) equal $10,000. B) are independent of the interest she enjoyed in her savings account. C) are affected by the interest she enjoyed in her savings account. D) are determined solely by the commission she is charged for the purchase of stock.
A price maker is a firm that:
A) has the power to affect the price of the product it sells. B) earns economic profits in both the short run and the long run. C) can sell any quantity of its product at the prevailing market price. D) sells its products at a price equal to the marginal cost of production.
Suppose the price of crude oil drops from $150 a barrel to $120 a barrel. The quantity bought remains unchanged at 100 barrels. The coefficient of price elasticity of demand in this example would be
A) -0.5. B) infinity. C) -1.0. D) 0.
Another term for the equilibrium price is
A) excess demand. B) nominal price. C) law of demand. D) market clearing price.