Banking began in
A. biblical times.
B. medieval times.
C. the 19th century.
D. the 20th century.
B. medieval times.
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Education of girls is a crucial development investment because
(a) it leads to improved child health. (b) it leads to reduced fertility. (c) women do most of the work in agriculture. (d) all of the above.
When an economy is in a liquidity trap
A) monetary policy cannot be used to influence the exchange rate. B) monetary policy can be used to drive interest rates down, but not to drive them up. C) there is an excess demand for bonds. D) people and institutions avoid holding cash balances. E) it can escape only by introducing a hard, or illiquid, currency.
Price floors are primarily intended to help
a. No one b. Consumers c. Producers d. Government
If ice cream has an absolute price elasticity of demand that is greater than 1, then the demand for ice cream is
A. elastic. B. perfectly inelastic. C. inelastic. D. unit elastic.