Which of the following statement is untrue?
A) assets equal liabilities plus net worth
B) households and firms are lenders and borrowers in the flow of funds
C) government regulation is the major cause of asymmetric information problems
D) pension funds and insurance companies are financial intermediaries
C
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You have chosen to take a trip during spring break. If you had not gone, you would either have worked at a temporary job or studied for exams. The opportunity cost of your trip is
A) the wages you would have earned from working. B) the lower grade earned by not studying. C) the wages you would have earned from working and the lower grade earned by not studying. D) the value of the tri
Diminishing marginal rate of substitution implies that the marginal rate of substitution
A. falls as one move to higher (northeast) in the indifference curve map. B. falls as one travels down (eastward) on an indifference curve. C. rises as one travels down (eastward) on an indifference curve. D. stays the same as one travels down (eastward) on a typical indifference curve.