Credit cards
A) make it easy for people to borrow funds at a low rate of interest.
B) are just like money because funds can be used to purchase things up to the credit limit.
C) can help you get more from your money because they make it possible for you to spend more than you earn.
D) make it easy for people to run up sizeable debt.
D) make it easy for people to run up sizeable debt.
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As of 2008, with which of the following countries did the U.S. not have a preferential trade agreement?
A) Mexico. B) Canada. C) Russia. D) Israel.
The U.S. tax burden is
a. about the same as most European countries. b. higher than most European countries. c. lower than most European countries. d. higher than all European countries.
Imagine that the Fed has unexpectedly lowered the reserve requirement, greatly increasing the amount of money in circulation. Explain what a rational expectations theorist would predict should happen in this situation over both the short run and the long run. Then give an example of what a critic of rational expectations theory would predict instead.
What will be an ideal response?
Full employment is the situation in which the economy operates at an unemployment rate equal to the sum of:
A. structural and frictional unemployment. B. cyclical and frictional unemployment. C. structural and cyclical unemployment. D. structural, frictional, and cyclical unemployment.