Financial intermediaries that primarily accept savings and make loans are known as:
a) commercial banks.
b) credit cards.
c) federal financial regulators.
d) securities firms.
Ans: a) commercial banks.
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Refer to Figure 4.9. Payoffs for playing Solid and Dash are indicated by the appropriate lines in the figure. Answer the following questions based on the above figure:
a. If you were playing this game, what would you choose if you thought everyone was playing Solid? b. If you were playing this game, what would you choose if you thought everyone was playing Dash? c. What is the dominant strategy in this game? d. What is the equilibrium outcome in this game?
According to the principle of comparative advantage, a nation should specialize in economic activities
A) that incur lower opportunity costs. B) that incur higher opportunity costs. C) for which it has an absolute advantage. D) for which it has no absolute advantage.
The voices of business and industry are less likely to influence government policy than the voices of consumers in the high-growth Asian economies
Indicate whether the statement is true or false
GDP figures are in billions of dollars.
Refer to the above table. What was real GDP in Year 2?
A.
$4,820 billion
B.
$4,875 billion
C.
$4,911 billion
D.
$5,320 billion