ECON 2035 Lecture Notes - Lecture 1: Pearson Education, Federal Reserve System, Financial Institution
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Document Summary
Chapter 1 why study money, banking, and financial markets: financial markets promote economic efficiency by. Channeling funds from savers to investors: financial markets promote greater economic efficiency by channeling funds from ________ to ________. Growth: a key factor in producing high economic growth is. Well-functioning financial markets: markets in which funds are transferred from those who have excess funds available to those who have a shortage of available funds are called. Financial markets: ________ markets transfer funds from people who have an excess of available funds to people who have a shortage. Financial: poorly performing financial markets can be the cause of. Poverty: the bond markets are important because they are. The markets where interest rates are determined: the price paid for the rental of borrowed funds (usually expressed as a percentage of the rental of per year) is commonly referred to as the.
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21. The English word that comes from the Greek word for "one who manages a household" is
A- market
B- consumer
C- producer
D- economy
B- should be counted only to the extent that they are more expensive at college than elsewhere. C- usually exceed the opportunity cost of going to college. D- plus the cost of tuition, equals the opportunity cost of going to college. |
B- in most economies, wealthy people consume disproportionate quantities of goods and services. C- governments restrict the production of too many goods and services. D- resources are limited. |
B- markets guiding economic activity. Today many countries that did not have this system have implemented it. C- government guiding economic activity. Today many countries that had this system have abandoned it. D- government guiding economic activity. Today many countries that did not have this system have implemented it. |
B- we should agree with Senator Johnson. C- a good decision requires that we recognize both viewpoints. D- there are no tradeoffs between equity and efficiency. |
B- it does not matter if they charge $10 or $15. C- they would do better charging $15 than $10. D- they should raise the price even more. |
B- helps to explain how the economy is organized. C- incorporates all aspects of the real economy. D- Both (a) and (b) are correct. |
B- households provide firms with labor, land, and capital. C- firms provide households with output. D- firms provide households with profit. |
B- grew rapidly, due to several increases in the minimum wage during those decades. C- grew rapidly, due to government policies that discouraged the importation of foreign products during those decades. D- grew slowly, due to the slow growth of the output of goods and services per hour of U.S. workers' time during those decades. |
Question 30. 30. For economists, statements about the world are of two types: |
A- assumptions and theories.
B- true statements and false statements.
C- specific statements and general statements.
D- positive statements and normative statements.