If GDP falls:
A) income and production must both fall.
B) income and production must both rise.
C) income must rise, but production may rise or fall.
D) none of the above.
A
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Bankers have an advantage in developing a relationship with their business borrowers because
A) banks provide a menu of services which allows them to learn about a company. B) banks have access to higher quality credit reports. C) banks are better at getting owners to pledge collateral than are other lenders. D) loans to small businesses are usually less than 5 years thus allowing encouraging borrowers to return more frequently for evaluation.
A new technology that increases the productivity of teachers has what effect on the labor market for teachers?
a. The wage rate will rise, and quantity of teachers employed will fall. b. The wage rate will rise, and quantity of teachers employed will rise. c. The wage rate will fall, and quantity of teachers employed will fall. d. The wage rate will fall, and quantity of teachers employed will rise. e. There is not enough information to determine what effects there are, if any.