Limited personal liability is an advantage for
A) sole proprietorships and partnerships. B) partnerships and corporations.
C) sole proprietorships and corporations D) corporations.
D
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The Federal Reserve System provides banking services to ________ because ________
A) consumers and businesses; it is a central bank with responsibilities to the entire U.S. population B) banks and businesses; it is a central bank with the primary purpose of regulating financial institutions and markets C) commercial banks; it is a central bank with the primary purpose of regulating financial institutions and markets D) no one; it is a central bank with the primary purpose of regulating financial markets E) FDIC insured banks; they are the ones that have paid their membership fees and the only ones the U.S. central bank guarantees
The recent Enron and Tyco scandals are an example of
A) the free-rider problem. B) the adverse selection problem. C) the principal-agent problem. D) the "lemons problem."
In the AD-AS framework, long-run equilibrium implies that ________
A) quantity demanded equals quantity supplied at a moderate level of equilibrium inflation B) quantity demanded equals quantity supplied at a point consistent with the short-run equilibrium level of inflation C) quantity demanded equals quantity supplied at a point consistent with the natural rate of unemployment D) all of the above E) none of the above
An increase in expected inflation results in
A) lower nominal interest rates and higher bond prices. B) lower real interest rates and higher bond prices. C) higher real interest rates and lower bond prices. D) higher nominal interest rates and lower bond prices.