When the interest rate rises, people are:
A. more likely to borrow, that is, sell a financial asset.
B. less likely to borrow, that is, purchase a financial asset.
C. less likely to borrow, that is, sell a financial asset.
D. more likely to borrow, that is, purchase a financial asset.
Answer: C
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The ability of an individual, firm, or country to produce more of a certain good than other competing producers, given the same amount of resources, is referred to as:
A) marginal advantage. B) comparative disadvantage. C) absolute advantage. D) perfect advantage.
In a perfectly competitive market,
A) firms can freely enter and exit. B) firms sell a differentiated product. C) transaction costs are high. D) All of the above.
If prices (as measured by the CPI) fell by one-half and nominal wages fell by one-third, what would happen to real wages?
a. They would fall by one-third b. They would remain unchanged c. They would decrease d. They would increase e. They would fall by one-half
________ provides health benefits to people with low incomes, and ________ provides health benefits to most people over the age of 65.
A. Medicaid; the Temporary Assistance to Needy Families (TANF) program B. Medicare; the Temporary Assistance to Needy Families (TANF) program C. Medicare; Medicaid D. Medicaid; Medicare