Economic freedom:
a. is the right to own property.
b. means not having to pay taxes.
c. is absent in rich countries.
d. affects only poor people.
e. is the ability to engage in voluntary trade.
e
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If Second National Bank has more rate-sensitive assets than rate-sensitive liabilities, it can reduce interest-rate risk with a swap that requires Second National to
A) pay fixed rate while receiving floating rate. B) receive fixed rate while paying floating rate. C) both receive and pay fixed rate. D) both receive and pay floating rate.
Graphically, a market demand curve is found by
A) taking the average of all prices that people are willing to pay. B) summing the quantities demanded by all individuals at each price. C) summing the prices each consumer would pay for each quantity. D) taking the average of the individual demand curves.
Good X is a Giffen good. When the price of X increases, the consumer will consume
a. more X. b. the same amount of X. c. less X. d. more or less X depending on the size of the income effect relative to the size of the substitution effect.
Which of the following statements is not true?
What will be an ideal response?