One way investment banks differ from commercial banks is that investment banks
A) lend exclusively to households.
B) do not take in deposits.
C) only buy and sell mortgages.
D) trade only in foreign exchange markets.
Answer: B
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An example of a barrier to entry is
a. patent law b. government regulations c. cost of advertising d. economies of scale e. all of the above
If households choose to take some fraction of each check they deposit and hold it as currency, then the simple deposit multiplier ________ the real-world multiplier
A) is equal to B) is greater than C) bears no relationship to D) is less than
Refer to the above figure. The profit maximizing price for a monopolistic competitor is
A) P1. B) P2. C) P3. D) P4.
_____ are most likely to be upwardly mobile within the income distribution of a country
a. Single-earner families b. College graduates c. People who experience unemployment d. Non-college graduates e. Retired individuals