One thing that is common for all bank loans is that they are:
A. unsecured.
B. securitized.
C. part of the banks' assets.
D. liquid.
Answer: C
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A measure of the average price of a given class of goods or services relative to the price of the same goods and services in a base year is called a:
A. real quantity. B. rate of inflation. C. price index. D. real price.
If a 5 percent change in the price of a good elicited a 5 percent change in the quantity demanded of the good, we would say that over this range of prices the good has a(n)
A) elastic demand. B) inelastic demand. C) perfectly elastic demand. D) unit elasticity of demand.
The interest that people receive on the government bonds is part of
a. net national product and is included in national income b. their personal income, but is not included in national income c. their personal income, but is included in capital depreciation d. the underground economy, so it is not included in GDP e. the numerous transfer payments the government makes, so they are not counted as part of national income
A perfectly competitive industry's market or "going" price is established by
A. the largest purchaser of this industry's output. B. the forces of supply and demand. C. the largest firm in the industry. D. each individual producing firm and reflects that firm's costs.