What do many economists see finance companies as having an advantage in?
A) purchasing commercial paper
B) selling long-term securities
C) monitoring the value of collateral
D) charging consumers particularly low interest rates
C
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The money, time, and opportunity used to change prices to keep pace with inflation are called:
A. menu costs. B. shoe-leather costs. C. tax distortions. D. the velocity of inflation.
Refer to Figure 9.5. The firm is producing Q units. Which area represents avoidable cost?
A. ABCDE
B. EDGF
C. EDCHF
D. CHGD
The social contract is an idea from:
a. Marx b. Ricardo c. Smith d. Locke e. Hayek
Country A has a population of 1,000, of whom 800 work 8 hours a day to make 128,000 final goods. Country B has a population of 2,000, of whom 1,800 work 6 hours a day to make 270,000 final goods
a. Country A has higher productivity and higher real GDP per person than country B. b. Country A has lower productivity and lower real GDP per person than country B. c. Country A has higher productivity, but lower real GDP per person than country B. d. Country B has lower productivity, but higher real GDP per person than country B.