Commercial banks are financial intermediaries, as are ________
A) household savers
B) state and local governments
C) insurance companies
D) organized exchanges
C
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A complete accounting of the costs of the tax system would not include _____
a. compliance costs b. legislative costs c. administrative costs d. political costs
A perfectly elastic demand curve is
A) vertical. B) horizontal. C) a rectangular hyperbola. D) a downward sloping straight line.
Answer the following statements true (T) or false (F)
1) Expansionary fiscal policy is so named because it involves an expansion of the nation's money supply. 2) If the MPC in the economy is .75, government could shift the aggregate demand curve rightward by $30 billion by cutting taxes by $10 billion. 3) If the MPC in the economy is .75, government could shift the aggregate demand curve rightward by $30 billion by cutting taxes by $10 billion. 4) Demand-pull inflation can be restrained by increasing government spending and reducing taxes.
According to Paul Ehrlich's 1968 prediction in The Population Bomb, population growth would result in:
A. Overuse of natural resources leading to famines B. Stable uses of natural resources creating long-term stability C. Efficient use of natural resources fostering prosperity D. Reduced dependence on natural resources leading to growth