Credit can be described as:
a. money used as a standard of deferred payment.
b. savings made available to borrowers.
c. fiduciary currency.
d. a form of liquid asset.
e. bank loans converted into commodity money.
b
Economics
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If an industry is dominated by three large producers whose revenues represent 30%, 30%, and 30% of the market's total revenues with the remaining two firms each representing 5%, what would be the measure of the Herfindahl-Hirschman Index for this industry?
a. 2,725 b. 2,750 c. 9,975 d. 10,000
Economics
Refer to the above table. Suppose the price of B rises from $18 to $20. What is the cross price elasticity of demand between A and B?
A. +1 B. 0 C. -1 D. -2
Economics