Which of the following is not considered to be a shadow bank?
A. Money-market mutual funds
B. Insurers
C. Credit unions
D. Brokerages
Answer: C
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Economic goods are defined as
A) tangible items only. B) services only. C) anything from which an individual derives satisfaction. D) any item which is available in sufficient quantity at zero price.
Refer to the table below. What is the present value of the entire stream of payments?
The above table shows a 5 year payment plan. Each payment is made at the end of the year, so after one year, a payment of $1,000 is made, after two years another payment of $1,500 is made and so on. The interest rate is 3 percent.
A) $9,800.14
B) $9,500.23
C) $9,886.70
D) $10,500.56
Which of the following statements is NOT correct about information?
A. It is always desirable for some people to have more information than others. B. Information plays an important role in how the economy functions. C. Adverse selection will not occur if there is full information given to all market participants. D. Asymmetric information may lead to the disappearance of a market.
According to prospect theory, people tend to favor default options. This is known as the:
A. self-serving bias. B. availability heuristic. C. status quo bias. D. framing bias.