Credit can be described as:
a. money used as a standard of deferred payment.
b. savings made available to borrowers.
c. fiduciary currency.
d. a form of liquid asset.
e. bank loans converted into commodity money.
b
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When a country both exports and imports a type of commodity, the country is engaged in
A) intra-industry trade. B) increasing returns to scale. C) imperfect competition. D) inter-industry trade. E) an attempt to monopolize the relevant industry.
How does collateral help to reduce the adverse selection problem in credit market?
What will be an ideal response?
Q: How many economists does it take to change a light bulb? A: All. Because then you will generate employment, more consumption, moving the aggregate demand curve to the right. This joke represents the view of
A) classical economists. B) Keynesian economists. C) economists who contend that money illusion never occurs. D) economists who conclude that wages and prices are very flexible.
A local flower grower grows products in a plot of land which is exceptionally colorful, and is admired by many passersby. There is no way to charge for this in the price of the flowers. We can safely conclude that
a. the florist produces too many flowers. b. the florist produces too few flowers. c. the florist produces the right amount of flowers. d. society pays the socially optimal amount for the flowers.