What is the main role of a bank?
A. Serve as an intermediary between savers and borrowers
B. Hold money in a safe for customers
C. Invest in businesses
D. Give out loans to customers
Answer: A
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At $6 per steak, consumers are willing to buy two steaks. At a price of $2, consumers are willing to buy six steaks. The elasticity of the market demand curve between P = $6 and P = $2 (dropping all minus signs) is
A. 0.33. B. 1 C. 2 D. 4
Suppose that initially there is no public debt. Using the above table, what is the public debt as a percentage of GDP in Year 4?
A) 5.8 percent B) 7.8 percent C) 3.6 percent D) 2.0 percent
Economists believe that externalities can be cured by market methods
a. True b. False Indicate whether the statement is true or false
When the difference between potential GDP and actual GDP increases, the nation usually suffers from increased inflation
a. True b. False Indicate whether the statement is true or false