Of all financial intermediaries, which of the following holds the most assets?
A) hedge funds
B) the federal government
C) commercial banks
D) corporations
C
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When there is a permanent increase in market demand in a constant-cost industry, a firm's Short-run Average Total Cost Curve will
a. shift down b. remain the same c. shift up d. become vertical
Answer the next question on the basis of the following information for a bond having no expiration date: bond price = $1,000; bond fixed annual interest payment = $100; bond annual interest rate = 10%. If the price of this bond falls by $200, the interest rate will
A. fall by 2.5 percentage points. B. fall by 5 percentage points. C. rise by 5 percentage points. D. rise by 2.5 percentage points.
A Nash equilibrium is defined as
A) earning zero economic profit in the long run. B) forming a cartel with strong penalties for cheaters. C) relying on other game players to realize the benefit of cooperation. D) each player taking the best possible action given the action of the other player. E) each player taking the action that is best for all the players.
On-the-job-training is an example of
A) increasing labor force participation. B) investment in human capital. C) investment in physical capital. D) technological change.