It is the job of ________ to channel funds from ________
A) the Federal Reserve, borrowers to lenders
B) the Federal Reserve, lenders to borrowers
C) financial intermediaries, borrowers to lenders
D) financial intermediaries, lenders to borrowers
D
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Suppose Apple announces that its earnings for the fourth quarter of 2013 rose to $2 billion. As a result of this announcement the price of Apple's stock does not change. The best explanation of this is
A) market participants were expecting Apple's earnings to be greater than $2 billion. B) market participants expected Apple's earnings to be $2 billion. C) market participants expected Apple's earnings to be less than $2 billion. D) market participants have adaptive expectations.
In the Cournot model, the output that a firm chooses to produce increases as
A) the total output of other firms increases. B) the number of firms in the market increases. C) the number of firms in the market decreases. D) its marginal cost increases.
A firm's producer surplus equals its economic profit when
A) average variable costs are minimized. B) average fixed costs are minimized. C) marginal costs equal marginal revenue. D) fixed costs are zero. E) total revenues equal total variable costs.
The primary source of revenue for the Federal Reserve is
a. the interest earned on the bonds held by the Fed. b. its annual appropriation from Congress. c. the interest earned on discount loans to banks. d. the dividends earned on the stocks held by the Fed.