An obstacle to economic growth in developing countries is:

When consumption is rival and excludable, the product is a

A) public good. B) private good. C) mixed good. D) service, not a good.

A major reason for the existence of financial intermediaries is

A) transactions costs that would be incurred without their existence. B) the fees charged by dealers and brokers in direct finance are so high. C) the problem of symmetric information. D) to assist borrowers in buying securities in financial markets.