If the market for a product is broadly defined, then
A) there are many substitutes for the product and the demand for the product is relatively elastic.
B) the good has many complements.
C) the expenditure on the good is likely to make up a large share of one's budget.
D) there are few substitutes for the product and the demand for the product is relatively inelastic.
D
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The decline in U.S. housing prices starting in 2007:
A. had essentially no impact on the rest of the U.S. economy. B. led to a sharp increase in consumer spending on other good and services. C. was followed by a large increase in employment. D. prompted many to sell their houses, causing house prices to fall further.
From a management policy perspective, which regression result is the most useful?
A) a regression equation that passes the F-test B) a regression equation whose explanatory variables all pass the t-test C) a regression equation that has the highest R2 D) a regression equation that has the least number of dummy variables
Which of the following is not a benefit to lenders of financial intermediation?
a. Lower credit risks than the direct market. b. Lower liquidity risk than the direct market. c. Lower market risk than the direct market. d. More convenient than the direct market. e. All the above are benefits.
National defense is an example of a _____________________.
Fill in the blank(s) with the appropriate word(s).