When economists make
a. positive statements, they are speaking not as scientists but as policy advisers.
b. positive statements, they are speaking not as scientists but as forecasters.
c. normative statements, they are speaking not as scientists but as policy advisers.
d. normative statements, they are speaking not as policy advisers but as model-builders.
c
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Higher saving rates mean higher future growth rates because
A) the banks have more money to distribute to their shareholders. B) saving contributes to more investment, which yields a larger capital stock. C) the interest earned from savings gives you more wealth. D) saving contributes to less investment, which yields a larger capital stock.
A lender of last resort is a financial institution that is willing and able to lend to: a. individuals who have other debts outstanding
b. individuals who do not have a positive net worth. c. banks that are not members of the Federal Reserve System. d. fractional reserve system banks experiencing runs on their deposits. e. Federal Reserve System member banks experiencing runs on their deposits.
The Federal Deposit Insurance Corporation helps to reduce the number of bank failures because
a. of its rule that individuals cannot make a run on a bank b. it promises to reimburse up to $10,000 of lost deposits in an account c. depositors will be secure in the fact that their deposits are protected d. it pays attention to the changes in the economy e. it is a soothing agent for individuals who have accounts over $100,000
Which of the following does not represent an arbitrage transaction?
A. Traders buy silks where they are abundant and cheap, and haul them along a trail to another place where they would be quite scarce and valued. B. An investor buys a stock when the company is new and relatively unknown and then sells the stock for a much higher price when the company is well-known and profitable. C. Someone buys a block of Final Four tickets and scalp them at the game. D. A boat manufacturer buys the electrical components for its boats from the lowest cost supplier and then sells the boats to consumers.