Which of the following are examples of institutions that economists would classify as belonging to the financial capital market?
A. banks
B. savings and loans
C. the stock market
D. all of the above
Answer: D
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A newspaper headline asserts: "Rising demand pulls up copper prices." The headline
A) is claiming demand determines price (rather than price determining demand). B) is claiming more copper would be demanded at higher prices. C) is claiming prices will fluctuate indefinitely. D) is guilty of all three errors mentioned above. E) makes perfectly good sense from the standpoint of economic theory.
The most important automatic stabilizer is: a. open market operations
b. the unemployment compensation system. c. the tax system. d. the welfare system.
The best measure of average income for a country is
A. Per capita GDP. B. Real GDP. C. The economic growth rate. D. The capital stock of the economy.
If the liberum veto is used in a policy-making setting, it means:
A. it is easy to halt policies, because only one person needs to be bribed to stop them. B. that government is an easy target for an area to become corrupt or taken advantage of. C. complete consensus is needed for legislation to pass. D. All of these are true.