A financial intermediary is
A. a firm that specializes in borrowing funds from savers and lending those funds to investors.
B. publicly owned but managed in the public interest.
C. a firm that regulates the money supply.
D. All of the choices are true of a financial intermediary.
A. a firm that specializes in borrowing funds from savers and lending those funds to investors.
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If Chinese consumers want to buy US goods, they will
a. buy Yuans to sell US Dollars b. Sell Yuans to buy US Dollars c. Demand Yuan d. Both b and c
Under perfect competition, if an industry is characterized by positive economic profits in the short run
a. firms will leave the market in the long run and the short-run supply curve will shift outward. b. firms will enter the market in the long run and the short-run supply curve will shift outward. c. firms will enter the market in the long run and the short-run supply curve will shift inward. d. firms will leave the market in the long run and the short-run supply curve will shift inward.
Both signaling and screening:
A. are effective ways to increase information available to both parties. B. reduce efficiency in the market. C. benefit the sellers but harm the buyers. D. benefit the buyers but harm the sellers.
If demand is price inelastic and the price is lowered, which of the following occurs?
A) The quantity sold decreases. B) The total expenditure increases and the total revenue decreases. C) The total revenue of the firms selling the product is unchanged. D) The total revenue of the firms selling the product decreases. E) The total expenditure decreases and the total revenue increases.