Which of the following statement is untrue?
A) assets equal liabilities plus net worth
B) households and firms are lenders and borrowers in the flow of funds
C) government regulation is the major cause of asymmetric information problems
D) pension funds and insurance companies are financial intermediaries
C
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The above figure shows the U.S. market for flip-flops. With international trade, U.S. consumers buy ________ flip-flops and U.S. producers produce ________ flip-flops
A) 500,000; 500,000 B) 300,000; 700,000 C) 700,000; 500,000 D) 700,000; 300,000 E) 500,000; 300,000
According to the real-balance effect, an increase in the price level will
A. decrease total planned real expenditures because of an increase in interest rates. B. decrease total planned real expenditures as a result of a decrease in the real value of money balances. C. leave total planned real expenditures unchanged since the price level of all goods has increased. D. lead to a corresponding increase in total planned real expenditures since businesses are now earning higher profits.
Using the above table, the TVC, the TC, and the MC when output is 4 units are
A. $67, $72, and $22, respectively. B. $16.75, $21.75, and $30, respectively. C. $16.75, $21.75, and $22, respectively. D. $67, $62, and $22, respectively.
In a zero-sum game
A. one player's losses are exactly offset by another player's gains. B. both players are better off at the end of the game. C. both players are worse off at the end of the game. D. both players collude to make both of them better off.