Lack of prudential regulation of capital markets in East Asia often led to
a. borrowing short term and lending long term
b. borrowing and lending short term
c. borrowing and lending long term
d. borrowing long term and lending long term
e. very little borrowing
A
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Generally, long-run elasticities of supply are
A) greater than short-run elasticities, because existing inventories can be exploited during shortages. B) greater than short-run elasticities, because consumers have time to find substitutes for the good. C) greater than short-run elasticities, because firms can make alterations to plant size and input combinations to be more flexible in production. D) smaller than short-run elasticities, because the firm has made long-term commitments it cannot easily modify. E) the same as short-run elasticities, because technology is not assumed to change in the long-run adjustment process.
The extra cost associated with producing or consuming the next unit is called the:
A. variable cost. B. marginal cost. C. utility cost. D. sunk cost.
Risk is typically measured:
a. by comparing the size of a firm to other firms operating in the market. b. by looking at the economic profit that a firm has earned in the past few years. c. by determining whether the bonds issued by a firm are of high or low value. d. by comparing how much the stock price fluctuates compared with an average firm. e. by comparing how much the price of the bond falls whenever the price of a firm's product rises.
Milton Friedman argued that the economy is not in long-run equilibrium if the expected inflation rate __________ the actual inflation rate
A) is less than B) is greater than C) equals D) a and b