As of 2017, the euro had become the currency for:
A. 19 countries.
B. 25 countries.
C. 7 countries.
D. 12 countries.
Answer: A
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Which of the following statements most accurately describes the task of bank asset management?
A) Banks seek the highest returns possible subject to minimizing risk and making adequate provisions for liquidity. B) Banks seek to have the highest liquidity possible subject to earning a positive rate of return on their operations. C) Banks seek to prevent bank failure at all cost; since a failed bank earns no profit, liquidity needs supersede the desire for profits. D) Banks seek to acquire funds in the least costly way.
A relatively high wage is predicted to be enjoyed by workers where
a. the population is large relative to industrial activity. b. the jobs are disagreeable or dangerous. c. the jobs are pleasant and satisfying. d. demand is weak and supply is high.
Markets fail when externalities are present
a. because all of the costs and benefits of producing a good are reflected in the market price. b. because some of the costs and benefits of producing a good are not reflected in the market price. c. only if they are negative; positive externalities are not market failures. d. because profits are not maximized. e. if the positive externalities are less than the negative externalities.
If there is excess demand in a market, then this suggests that:
A. there is no way to help some people without harming others. B. the market is in equilibrium. C. the market price is above the equilibrium price. D. there is an opportunity for mutually beneficial trades.