Traditionally, Wall Street investment banks had been organized as ________, but by 2000 they had converted to being ________
A) sole proprietorships; partnerships B) partnerships; sole proprietorships
C) corporations; partnerships D) partnerships; publicly-traded companies
D
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Since depositors, like any lender, only receive fixed payments while the bank keeps any surplus profits, they face the ________ problem that banks may take on too ________ risk
A) adverse selection; little B) adverse selection; much C) moral hazard; little D) moral hazard; much
The velocity of money ________
A) represents the average number of times a dollar turns over through the year B) provides the link between the money supply and nominal income C) times the money supply should equal total income, according to the equation of exchange D) all of the above E) none of the above
Discretionary expansionary fiscal policy may not lead to _____
a. decreased national saving b. decreased unemployment c. inflation d. lower interest rates e. crowding out
One challenge associated with command-and-control regulations is that once a company meets an environmental standard, there is:
a. always another one to meet. b. no way to enforce further compliance. c. no incentive to exceed it. d. a production cost that the government must pay.