Banks that are managed in a very safe and conservative manner can be expected to earn
A. high, steady profits.
B. high but volatile profits.
C. low and consistent profits.
D. low profits with occasional major losses.
Answer: C
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Rising inflation causes quantity demanded to decline, because ________
A) the central bank raises the nominal interest rate by more than the increase in expected inflation B) households and businesses are reluctant to spend when prices rise C) higher inflation causes the IS curve to shift to the left D) all of the above E) none of the above
Exhibit 6A-3 Consumer equilibrium
?
Given the budget line and indifference curves shown in Exhibit 6A-3, point V is:
A. inferior to point X. B. lowest attainable level of total utility. C. unobtainable. D. consumer equilibrium.
As price falls
A. supply rises. B. supply falls. C. quantity supplied rises. D. quantity supplied falls.
Which of the following statements correctly describes a perfectly competitive market?
A) In a perfectly competitive market, individual sellers and buyers can influence the market price. B) All participants in a perfectly competitive market are price takers. C) Haggling and bargaining is commonly observed in a perfectly competitive market. D) Buyers in a perfectly competitive market pay different prices according to their individual demand.