The largest source of income for banks is
a. the interest received from loans
b. fees charged to customers for accounts
c. money deposited in savings accounts
d. fees charged on credit cards
Ans: a. the interest received from loans
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Which of the following is the best example of a good that has inelastic demand?
a -diamond b -movie ticket c -boat d -salt
Moral hazard occurs when contracts are written in such a way that
A) the interests of agent and principal converge. B) the interests of agent and principal diverge. C) agents will wish to maximize the principal's utility. D) production and risk-bearing efficiency are achieved.
Since the end of World War II, corporate income taxes have accounted for
a. an increasing share of federal revenue. b. a steady share of federal revenue. c. a declining share of federal revenue. d. a rising share of revenue until 1980, and then a falling share.
Suppose you observe a decrease in the equilibrium price and quantity of corn. Of the options listed below, this is best explained by:
A. a decrease in the cost of growing corn. B. an increase in the cost of growing corn. C. a fall in consumer income assuming corn is a normal good. D. a rise in consumer income assuming corn is a normal good.