Most savers:
A. lend their money directly.
B. deposit their savings into banks, retirement accounts, and life insurance companies.
C. do not use proxies to decide who to lend their money to.
D. All of these are true.
Answer: B
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What allocation method is the primary method used in the United States?
What will be an ideal response?
The number of times per year each dollar is used to transact an exchange is the:
a. quantity theory of money. b. velocity of money. c. equation of exchange. d. turnover rate. e. expenditure rate.
The more elastic is the demand for the good, the
a. more elastic will be the demand for the resources used to produce the good b. less elastic will be the demand for the resources used to produce the good c. less effect any given wage rate increase will have on employment d. higher the wage rate increase the union can achieve without causing unemployment e. more elastic will be the supply of resources used to produce this product
Under a flexible exchange rate system, there is no need for foreign exchange reserves.
Answer the following statement true (T) or false (F)