The most significant change in the economic environment that changed the demand for financial products in recent years has been
A) the aging of the baby-boomer generation.
B) the dramatic increase in the volatility of interest rates.
C) the dramatic increase in competition from foreign banks.
D) the deregulation of financial institutions.
B
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A policy of fiscal austerity could have difficulty lowering the debt-to-GDP ratio because it might:
A. lower both GDP growth and government revenue. B. lower potential output and government spending. C. raise potential output and government spending. D. raise both GDP and government revenue.
Every cost-minimizing producer is profit-maximizing.
Answer the following statement true (T) or false (F)
A firm under any market structure maximizes profits at a point where:
a. marginal revenue product is greater than marginal factor cost. b. marginal revenue product is equal to marginal factor cost. c. marginal revenue product is equal to zero. d. marginal factor cost is equal to zero. e. marginal revenue product is less than marginal factor cost.
Which of the following statements best describes trade-offs?
a. With a trade-off, it is necessary to give up some of one good to gain more of the other good. b. Trade-offs are not determined by the relative prices of the goods. c. A trade-off is always represented by a straight vertical line. d. A trade-off is always represented by a straight horizontal line.