Credit card companies that operate as intermediary firms between credit card holders and business vendors are best described as
A. platforms in a shared-input market.
B. end users in a shared-input market.
C. end users in a transaction-based market.
D. platforms in a transaction-based market.
Answer: D
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A commercial bank has actual reserves of $1 million and checkable-deposit liabilities of $9 million, and the required reserve ratio is 10%. The excess reserves of the bank are
A. $900,000. B. $1 million. C. $100,000. D. $50,000.
An economy in which government bureaucracy decides how much of a good to produce, how to produce the good, and who gets the good is known as a
A) centrally planned economy. B) market economy. C) mixed economy. D) laissez-faire economy.
Hannah and Chris each like jewelry and music by the Rolling Stones. If we were to graph an indifference curve with jewelry on the horizontal axis and CDs by the Rolling Stones on the vertical axis, then
a. Hannah and Chris would have identical indifference curves. b. Hannah's indifference curve would be higher than Chris's indifference curve. c. Chris's indifference curve would be higher than Hannah's indifference curve. d. Because we do not know the intensity of each woman's preferences, we do not have enough information to compare their indifference curves.
Firms that are participating in persistent dumping will sell less in the foreign market and charge a higher price than in the home market.
Answer the following statement true (T) or false (F)