During the Great Recession, the prime rate quoted by most banks has fallen to ______%.
A. 5.5
B. 4.25
C. 3.25
D. 1.25
C. 3.25
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A firm in a perfectly competitive industry
A. is unaffected by the entrance of new firms into the industry, since entering firms affect only the prices they themselves receive. B. always produces more output in the long run than in the short run. C. may choose a different output in the long run than in the short run. D. earns economic profit in the long run but not in the short run.
Suppose that Brazil is capital abundant and Chile is natural resource abundant. If timber is natural resource intensive and computers are capital intensive, then according to the Stolper-Samuelson Theorem, the incomes of the owners of ________ are likely to rise in Brazil after trade with Chile begins.
A) capital
B) labor
C) natural resources
D) It is impossible to determine which will be favored.
Assume Bridget's budget constraint is shown in the graph shown. If she has $48 to spend on these two items, then earrings must cost:
A. $12. B. $8. C. $4. D. $6.
If the price level increases,
A) the buying power of your checking accounts rises with it. B) the economy tends to grow faster. C) there is no effect on buying power. D) the buying power of your checking account falls.