The major contribution of goldsmiths to the development of modern banking was

Bonds with ________ tend to have lower interest rates than bonds with ________

A) high liquidity; low liquidity B) high default risk; low default risk C) longer maturity; shorter maturity D) high tax burdens on their interest; low tax burdens on their interest

Two items which have a negative cross price elasticity of demand are referred to as

A) luxury goods. B) inferior goods. C) substitutes. D) complements.