Since 1974, commercial banks importance as a source of funds for nonfinancial borrowers
A) has shrunk dramatically, from around 40 percent of total credit advanced to around 25 percent by 2014.
B) has shrunk dramatically, from around 70 percent of total credit advanced to below 50 percent by 2014.
C) has expanded dramatically, from around 50 percent of total credit advanced to above 70 percent by 2014.
D) has expanded dramatically, from around 30 percent of total credit advanced to above 50 percent by 2014.
A
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Oil prices have risen temporarily, due to political uncertainty in the Middle East. An advisor to the Fed suggests, "Higher oil prices reduce aggregate demand. To offset this we must increase the money supply
Then the price level won't need to adjust to restore equilibrium, and we'll prevent a recession." Analyze this statement using the IS—LM model.
A regulated natural monopolist allowed to earn a "fair" rate of return would produce to the point at which
A) the price per unit equals the long-run average cost. B) the marginal revenue curve meets the long-run average cost curve. C) the marginal revenue curve meets the long-run marginal cost curve. D) the price per unit equals its marginal revenue.