Under "trickle down", additional economic activity will benefit the poor
Indicate whether the statement is true or false
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An important role of financial institutions is to
A) provide borrowers with low interest rates. B) provide information to lenders about the quality of financial claims issued. C) buy primary securities. D) control the money supply.
If an individual's income rises 40 percent and his clothing purchases increase 50 percent in response, the income elasticity for clothing by the individual is
A) -0.8. B) 0.8. C) 1.25. D) -1.25.
The foreign exchange system that has the highest foreign exchange risk is
A) the dirty floating exchange rate. B) the fixed exchange rate. C) the floating exchange rate. D) the Bretton Woods system.
A perfectly inelastic demand:
A. has an absolute value greater than 1. B. is demonstrated by a perfectly horizontal demand curve. C. means people will quickly change the quantity they purchase when price changes. D. means people will not respond to any change in price.