One of the essential functions that a bank performs is
A) transferring money from savers to lenders. B) owning assets like real estate.
C) purchasing government bonds. D) creating deposits by lending required reserves.
A
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If the demand for a product is elastic, then a rise in price will
a. cause total spending on the good to increase. b. cause total spending on the good to decrease. c. keep total spending the same, but reduce the quantity demanded. d. keep total spending the same, but increase the quantity demanded.
International trade occurs because the opportunity cost of producing specific goods differs across
a. firms b. individuals c. regions of the U.S. d. countries e. households
Backloaded compensation makes the wage profile increase at a decreasing rate
Indicate whether the statement is true or false
You love Christmas and elaborately decorate your home and yard. It is such a spectacle that hundreds of people drive by your house each day to enjoy the display. The noise and traffic disturb your neighbors who sue you, and you are required to take down your display permanently. This is an example of
A. an injunction. B. the Coase theorem. C. the free-rider problem. D. a liability rule.