A credit union is
A) a combination of credit card corporations.
B) a depository institution owned by a social or economic group.
C) a thrift institution that issues credit cards.
D) a commercial bank owned by its depositors.
B
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The date at which a recession starts is called the
A) trough. B) peak. C) depression. D) plateau.
Entrepreneurs bring together the factors of production to produce goods and services
Indicate whether the statement is true or false
Refer to Figure 12-6. Which of the following statements is true?
A) Jason should produce where MC equals $3 (point d) where he will minimize his losses. B) Jason cannot earn a profit from selling any number of apples. C) Jason should produce where MC equals $3 (point d) where he will maximize his profit. D) Jason should produce where the distance between MC and his demand curve is greatest (point b).
If wages and prices are flexible and expectations are formed rationally, an increase in the money supply will cause
A) real wages to rise. B) real wages to fall. C) nominal wages to rise. D) nominal wages to fall.