Tangible items that are longer lived are called ______.
a. nondurable services
b. durable services
c. nondurable goods
d. durable goods
d. durable goods
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If the reserve ratio is raised, the money multiplier
A) stays the same. B) is doubled. C) is lowered. D) is increased.
In an open outcry Dutch auction, ________
A) the bidders begin the bidding process with a low starting bid B) the auctioneer begins the bidding process with a low starting bid C) the auctioneer begins the bidding process with a high starting bid D) the bidders decide the starting bid
Standby letters of credit
A) are a form of swaps. B) are a promise by a bank to lend the borrower funds to pay off its maturing commercial paper. C) are a promise by a large depositor to provide additional funds to a bank should the bank face an unexpectedly large deposit outflow. D) represent the unused balance on a bank credit card.
Which of the following causes an increase in demand for a normal good?
A) increase in the price of a substitute B) increase in the price of a complement C) decrease in price D) decrease in income