Which of the following statements is incorrect with respect to the 1980s?
A) Corporate financing migrated from the short-term bank loan market to the commercial paper market.
B) Money market funds could offer transactions services coupled with a diversified money market investment vehicle at very low costs because of advances in computer technology.
C) Specialized monitoring services of commercial banks became more important because of new asset valuation models.
D) Innovations in information technology made some small borrowers more "bankable."
C
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Agreements among competing sellers to maintain prices and share markets
A) are usually unenforceable in court and illegal under many state laws and under federal law where applicable. B) are very common because they lead to economies of scale and hence greater efficiency. C) enable all sellers to cover their sunk costs but do not guarantee that any seller will be able to cover marginal cost. D) usually result in greater total output but also in higher prices to consumers.
If both labor demand and labor supply fall, what will happen to the real wage, employment, and output?
a. The real wage will increase, real output will increase, but the effect on employment depends upon the magnitudes of the shifts. b. The real wage will increase, but the effects of employment and real output depend upon the magnitudes of the shifts. c. The real wage, employment, and real output will all decrease. d. Employment and real output will decrease, but the effect on the real wage depends upon the magnitudes of the shifts. e. The real wage, employment, and real output will all increase.
The opportunity cost of something is what you give up to get it
a. True b. False Indicate whether the statement is true or false
Higher inflation results in
a. more frequent price changes and increased variability of relative prices. b. more frequent price changes and decreased variability of relative prices. c. less frequent price changes and increased variability of relative prices. d. less frequent price changes and decreased variability of relative prices.