Which of the following is an accurate statement about universal banks?
A. As in Germany, universal banks in the United States do everything under one roof, including direct investment in the shares of nonfinancial firms.
B. Universal banks in the United States account for the largest share of financial intermediary assets.
C. In Germany the provision of insurance, banking, and securities must be done by separate corporations.
D. In Germany universal banks do everything under one roof, including direct investment in the shares of nonfinancial firms.
Answer: D
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In the above figure, the marginal cost of the last unit produced by the profit maximizing firm is
A) $5. B) $10. C) $15. D) $20.
Applied to any investment, the phrase "there's no such thing as a free lunch" means that higher returns come with lower risks, and lower returns come with higher risks.
Answer the following statement true (T) or false (F)
Economic models start with the assumption of
a. exogenous prices. b. the laws of supply and demand. c. equilibrium. d. rational behavior.
The natural rate of unemployment worsens if:
a. A nation's resource endowments expand. b. Labor force mobility worsens. c. Capital markets become more competitive. d. None of the above. e. Actually, the natural rate cannot worsen. That's why it's called "natural."