For banks, the central bank acting as a lender of last resort helps to reinforce the effect of deposit insurance and to reassure bank customers that they will not ___________ their money.
a. access
b. spend
c. find
d. lose
d. lose
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The demand for a product is inelastic whenever
A. the percentage change in quantity demanded is less than the percentage change in price. B. the percentage change in quantity demanded is higher than the percentage changes in price. C. the percentage change in quantity demanded is equal to the percentage changes in price. D. the quantity demanded changes by zero when price changes.
The rational expectations hypothesis is based on the assumption that
A) individuals combine effects of past policy actions with their own judgment about future policy effects and changes when forming their expectations. B) individuals adapt in response to past policy actions and changes without looking ahead when forming their expectations. C) firms pay above equilibrium wages to their employees. D) most firms operate in a less than competitive environment.
Distinguish between craft unions and industrial unions
What will be an ideal response?
Price floors are typically imposed to benefit sellers
a. True b. False Indicate whether the statement is true or false