Banks help savers find productive uses for their funds because banks are specialized in:
A. gathering information about and evaluating potential borrowers.
B. securing government guarantees for loans.
C. evaluating the riskiness of stocks.
D. obtaining preferential tax treatment for savers.
Answer: A
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The general rule to increase profits when two close complementary brands are jointly owned is
a. Increase prices for both brands b. Decrease prices for both brands c. Increase prices on one brand, decreasing it for the other d. Increase prices on one brand, keeping the prices of the second brand constant
Division of labor allows people to do tasks for which they have greater natural ability
a. True b. False
The substitution effect is thought to dominate the behavior of low-wage workers.
Answer the following statement true (T) or false (F)
Assume that the graph below describes the current labor market for nurses in a mid-sized city and that the labor market is perfectly competitive.
If supply shifts from S0 to S1 and demand shifts from D0 to D1, then the equilibrium wage will ________, and the equilibrium number of nurses will ________.
A. increase; increase B. stay the same; increase C. increase; stay the same D. stay the same; stay the same