Hedge funds, investment banks, and other non-depository financial firms are known as ________
A) the shadow banking system
B) repurchasers
C) subprime lenders
D) CDOs
A
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Which of the following is not one of the three key services provided by the financial system to savers and borrowers?
A) risk sharing B) credit counseling C) liquidity D) information
A firm holds a pure monopoly in the market and can sell 4 units of output at $2.00 per unit and 5 units of output at $1.75 per unit. The firm will produce and sell the fifth unit if its marginal cost is which of the following?
a. $1.75 or less b. $2.00 or less c. $0.75 or less d. $1.00 or less
An oligopoly is a market in which at least some firms are large enough to influence market price.
Answer the following statement true (T) or false (F)
When the nation of Isoland opens up its steel market to international trade, that change
a. creates winners and losers, regardless of whether Isoland ends up exporting or importing steel. b. results in a decrease in total surplus, regardless of whether Isoland ends up exporting or importing steel. c. creates winners, but no losers, if Isoland ends up exporting steel. d. creates losers, but no winners, if Isoland ends up importing steel.