Banks are financial intermediaries, which are institutions that operate between a saver who deposits money in a bank and a ____________ who receives a loan from that bank.
a. lender
b. saver
c. depositor
d. borrower
d. borrower
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Economy with no productivity growth is called the
A) zero-sum society. B) zero-growth society. C) export-led society. D) doomed-to-fail society.
In the long run, the greater burden of a specific tax will usually be absorbed by:
a. consumers. b. the party—consumers or producers—with the more elastic demand/supply curve. c. the party with the least elastic demand/supply curve. d. shareholders and employees of the firm in the form of reduced dividends and wages.
Tractors, shovels, copy machines and computer programming expertise are all examples of scarce resources
a. True b. False Indicate whether the statement is true or false
Suppose a patent applicant approaches an insurance company and seeks to purchase an insurance policy that her patent will not net $1m in the next three years. The insurance company
A) will sell her an insurance policy because the proposal entails uncertainty not risk. B) will sell her an insurance policy because the proposal entails risk not uncertainty. C) will not sell her an insurance policy because the proposal entails uncertainty not risk. D) will not sell her an insurance policy because the proposal entails risk not uncertainty.