A credit union is an example of a financial intermediary
a. True
b. False
A
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The main reason that finished goods are scarce is that
A. raw material resources are scarce. B. factories are not operated efficiently. C. distribution systems are clogged. D. taxes are destroying work incentives. E. All of the responses are correct.
The discount rate's main significance is that: a. changes in the rate are commonly viewed as a signal of the Fed's intentions with respect to monetary policy. b. changes in the rate are a sign that monetary policy has swung strongly in a new direction
c. it can be done quietly, without a lot of political debate or a public announcement. d. a small change in the rate can make a huge change in the number of dollars that are in excess reserves in banks all over the country.
In 2008, Computers, Inc produced personal computers worth $20 million. If $16 million worth were sold and $4 million worth remained unsold at year end and were added to inventories, how much did Computers, Inc contribute to GDP in 2008?
a. $0 b. $4 million c. $12 million d. $16 million e. $20 million
For which of the following goods is the income elasticity of demand likely lowest?
a. water b. sapphire pendant necklaces c. filet mignon steaks d. fresh fruit