Financial intermediaries are important because
a. the process of finding loans is complicated
b. firms are usually unwilling to part with extra revenue
c. they are examples of banks
d. we could not function in society without them
e. they facilitate efficient transactions between borrowers and lenders
E
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Regarding IBFs, which of the following is correct?
A) not subject to reserve requirements B) not subject to interest rate regulations C) were created to permit U.S. banking offices to compete with offshore banks without having to use an offshore banking office D) All of the above.
Externalities are failures of
A. the market to correctly price resources. B. firms and consumers to make rational tradeoffs. C. firms to make rational tradeoffs. D. consumers to make rational tradeoffs.
The composition of demand and supply is relatively unimportant to the study of inflation and unemployment rates.
Answer the following statement true (T) or false (F)
The argument that trade generates gains for all workers may NOT be true because:
a. a more realistic assumption includes capital and land as factors of production and recognizes that trade will generate gains for some factors and losses for others. b. greedy corporations exploit workers. c. technology gains are concentrated among lowskill workers. d. some workers lack skills and training and cannot find jobs.