A sole proprietorship is characterized by:
a. separation of ownership and management.
b. mutual agency.
c. existence of multiple contracts.
d. unlimited liability.
D
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Quasilinear goods are borderline goods between the set of normal and the set of inferior goods.
Answer the following statement true (T) or false (F)
The money market model is concerned with ________ and the loanable funds market model is concerned with ________
A) short-term nominal interest rates; long-term real interest rates B) short-term nominal interest rates; long-term nominal interest rates C) short-term real interest rates; long-term nominal interest rates D) short-term real interest rates; long-term real interest rates
The presence of transactions costs and information costs
A) lowers the cost of funds to borrowers. B) raises the expected return to lenders. C) lowers the expected return to lenders. D) increases the efficiency of the financial system.
Which of the following represents an action by the Federal Reserve that is designed to decrease the money supply?
A. a decrease in the discount rate B. selling government securities in the open market C. a decrease in the required reserve ratio D. a decrease in federal spending