Credit Suisse, Goldman Sachs, and Lazard Freres are examples of
A) commercial banks.
B) corporations.
C) non-bank financial institutions, such as insurance companies, pension funds, and mutual funds. This includes investment banks, which specialize in underwriting sales of stocks and bonds by corporations and in some cases governments.
D) central banks and other government agencies.
E) non-profit organizations.
C
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If the real interest rate increases, there is
A) an upward shift of the consumption function. B) a movement downward along consumption function. C) a change in the slope of the consumption function. D) a movement upward along the consumption function. E) a downward shift of the consumption function.
A firm should always shut down if its revenue is
A) declining. B) less than its average fixed costs. C) less than its total costs. D) less than its avoidable costs.
A freeze in Florida's orange growing regions will:
A result in a sharp increase in the price of oranges in the short run because demand and supply are highly elastic. B result in a sharp increase in the price of oranges in the short run because demand and supply are highly inelastic. C result in little change in the price of oranges in the short run because supply is infinitely elastic. D result in a sharp decrease in the price of oranges in the short run because demand is highly inelastic and supply is highly elastic.
A subsidy is similar to a reverse tax—instead of taking money away from buyers (or sellers), the government gives money back to buyers (or sellers).
a. true b. false