Which of the following is not a fungible commodity?
A. Electricity
B. Silver
C. Oil paintings
D. All of these are fungible commodities.
C. Oil paintings
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Tickets to the Michigan-Notre Dame football game are usually sold out in advance of game day. This suggests that
a. the price of the tickets must be very high or else people would not consider them valuable
b. the price is set below the equilibrium level
c. the football stadium is relatively small
d. everyone who attends the game will enjoy it
e. the price is determined primarily by the fixed supply of tickets
In the above figure, the efficient quantity is
A) 0 units. B) 70 units. C) 80 units. D) 100 units.
A risky small business stands the best chance of finding external financing from
A) a commercial finance company. B) a commercial bank. C) an investment bank. D) trade credit.
If a bank that is subject to a 10 percent required reserve ratio has $20,000 in excess reserves, it can make new loans of:
a. $2,000 b. $18,000. c. $20,000 d. $200,000.