As a result of the Monetary Control Act of 1980:
A. there was less competition among various financial institutions.
B. fewer institutions were permitted to offer checking account services.
C. savings and loan associations were restricted to offering long-term loans.
D. savings and loans paid higher interest rates on short-term deposits to compete for customers.
Answer: D
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John has to choose between two jobs: one that offers him $50 per hour and one that offers him $35 per hour. The opportunity cost of choosing the job that offers him $50 per hour is:
A) $1.5 per hour. B) $15 per hour. C) $35 per hour. D) $85 per hour.
Cole was discussing the market for cocoa beans with his friend John Schmidt
Cole said, "Ever since Venezuela announced that its cocoa harvest was its lowest ever in fifteen years, the price of cocoa beans has been rising and rising and people are buying more and more. I think the demand for cocoa beans must be upward sloping." Is Cole right? Briefly explain why or why not.