With microfinance, the mechanism of ________ is a way to avoid the problem of imperfect information.
A. peer lending
B. requiring no collateral
C. making only small loans
D. accepting savings deposits
Answer: A
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A good is rival in consumption if:
a. the supplier of that good can prevent people who do not pay from consuming it. b. the supplier of that good cannot prevent people who do not pay from consuming it. c. the same unit of the good cannot be consumed by more than one person at the same time. d. there is no free-rider problem.
Vertical merger occurs when
A) two firms merge where one had sold its output to the other as an input. B) the merger moves the combined firm onto the horizontal portion of its long-run average cost curve. C) two firms merge where each is about the same size. D) two firms producing a similar product merge.
Which of the following will NOT shift the short-run aggregate supply (SRAS) curve?
A. a change in the consumer spending B. a change in the wage rate C. technological progress D. a reduction in energy prices
Other things equal, the stock of capital inherited by future generations is likely to be smaller when government spending:
A. increases during a period of recession, rather than prosperity. B. is primarily for capital-type goods. C. is financed by borrowing. D. is financed by taxation.