Which statement is false?
A. Over the last three decades our money supply grew most years, but at widely varying rates.
B. The U.S. dollar is based on Spanish currency.
C. The interest rate on business loans is lower than the interest rate that banks pay their depositors.
D. The distinction between commercial banks and other banks is becoming blurred.
B. The U.S. dollar is based on Spanish currency.
C. The interest rate on business loans is lower than the interest rate that banks pay their depositors.
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A farmer who has fixed amounts of land and capital finds that total product is 24 for the first worker hired; 32 when two workers are hired; 37 when three are hired; and 40 when four are hired. The farmer's product sells for $3 per unit and the wage rate is $13 per worker. How many workers should the farmer hire?
A. 1 B. 2 C. 3 D. 4
To the extent that there are concerns about moral hazard and adverse selection in a country,
A) economic growth will be hindered. B) there will be more portfolio investment. C) there will be more foreign direct investment. D) it will be easier to arrange financing for new development projects.
In the long run, a change in the money supply does not affect the natural rate of unemployment because: a. the aggregate demand curve is vertical
b. the aggregate demand curve is downward sloping. c. the long-run aggregate supply curve is vertical. d. the long-run aggregate supply curve is upward sloping. e. the long-run aggregate supply curve is horizontal.
The demand curve for the product of a perfectly competitive firm is
A) perfectly elastic. B) perfectly inelastic. C) elastic at high prices and inelastic at low prices. D) identical to the elasticity of demand on the market demand curve.