The main source of profit for financial institutions is
a. their ownership of stocks in commercial corporations.
b. their ownership of real assets received in foreclosures on loans to households.
c. the fees charged for holding and servicing checking accounts.
d. the difference between interest paid on deposits and interest received on loans.
e. the difference between the cost of creating new money and the interest paid on loans.
D
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Average total cost is equal to
A) average fixed cost + average variable cost. B) total cost รท quantity. C) the change in total cost when output changes by one unit. D) Answers A and B are correct. E) Answers A and C are correct.
If a production process generates pollution, then a competitive market will
A) produce more of the good than is socially optimal. B) produce less of the good than is socially optimal. C) produce the socially optimal quantity of that good. D) produce zero output.
Refer to the table below. The expected value of the price of the input in Country A is ________ the expected value of the input in Country B.
The above table provides the probability distribution of price of an input next year in Country A and Country B.
A) greater than
B) twice
C) the same as
D) less than
Macroeconomics studies the determination of
a. total output, total employment, the general price level, and the general level of interest rates b. total output and the general level of interest rates only c. total employment and the general level of prices only d. the interaction of individual economic actors in specific markets and industries e. the levels of employment and prices in specific markets and industries