What is a credit union?
(A) A modified type of savings and loan that makes loans for housing.
(B) A bank that specializes in retirement savings accounts.
(C) A bank that takes deposits but does not make loans
(D) A cooperative lending institution for a particular group.
Answer: (D) A cooperative lending institution for a particular group.
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What is the effect on velocity if payments are made more often?
a. It will decrease. b. It will increase. c. It will remain constant. d. Velocity is unrelated to payments.
Total utility is best defined as the
A. additional satisfaction received from consuming an additional unit of a good or service. B. maximum amount of satisfaction from consuming a product. C. change in marginal utility multiplied by the price of a product. D. total satisfaction received from consuming a good, service, or combination of goods and services.