In a market for money,
A. borrowers are the suppliers and lenders are the consumers.
B. both borrowers and lenders are the consumers.
C. both borrowers and lenders are the suppliers.
D. borrowers are the consumers and lenders are the suppliers.
Answer: D
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Why does the gravity model work?
A) Large economies became large because they were engaged in international trade. B) Large economies have relatively large incomes, and hence spend more on government promotion of trade and investment. C) Large economies have relatively larger areas which raises the probability that a productive activity will take place within the borders of that country. D) Large economies tend to have large incomes and tend to spend more on imports. E) Large economies tend to avoid trading with small economies.
Which of the following would not be considered physical capital?
A. An axe B. Fertile soil C. A factory D. A forklift
List five major economic activities of government, and give an example of each
Race tracks that are road courses (as opposed to ovals) where drivers turn both right and left have large grandstands near the start/finish line and smaller ones at the various turns and twists in the course. On a per seat basis, the costs of providing personnel in the grandstand are less than the costs of providing personnel to the smaller ones. In that case, the MC curve would be
A. a backward L. B. a forward L. C. downward sloping. D. upward sloping.