The financial system is made up of the:
A. government's offices that regulate over all transactions conducted between borrowers and savers.
B. government and monetary authority.
C. government's offices that keep watch over all transactions conducted between savers and lenders.
D. institutions that bring together savers, borrowers, investors, and insurers in a set of interconnected markets where people trade financial products.
Answer: D
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The following data represent a personal income tax schedule. Answer the next question on the basis of this information.Taxable IncomeTotal Tax$15,000$1,50030,0003,50060,0009,000120,00035,000As income increases, the marginal tax rate
A. has no definite pattern. B. increases. C. remains constant. D. decreases.
Wage and MFC differ for a monopsonist because:
a. the monopsonist is forced to pay a wage greater than the worker's MFC. b. the monopsonist must accept the market wage rate. c. workers are not as efficient when employed by a monopsonist. d. any wage increase applies to all workers, not just to the next hired. e. wage rate decreases force workers to work longer hours.
The Federal Reserve has been quite consistently successful in keeping the inflation rate low over its entire history
a. True b. False
Refer to Scenario 1.2 below to answer the question(s) that follow.SCENARIO 1.2: A scientist wants to understand the relationship between automobile emissions and the level of global warming. The scientist collects data on the volume of automobile emissions and the levels of global warming over time. The scientist concludes that a 1% increase in automobile emissions causes a 0.0003% increase in average global temperatures. From this information he concludes that the automobile emissions are harmful to the environment and should be reduced to stop the increase in global temperatures.Refer to Scenario 1.2. A graph of the volume of automobile emissions on one axis and the level of average global temperatures on the other axis is an example of
A. inductive reasoning. B. an economic model. C. a variable theory. D. an economic theory.