The main differences between the bank and the nonbank institutions include all of the following EXCEPT
A) banks are regulated by the Fed while nonbank institutions are not.
B) banks obtain the funds to buy investment by attracting deposits while nonbank institutions borrow funds.
C) banks hold more equity then nonbank institutions.
D) banks' balance sheets include assets and liabilities while nonbank institutions' balance sheets include only liabilities.
D
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If the goal of the union is to maximize member income, then
A) a wage rate will be set in the inelastic portion of the demand curve. B) a wage rate will be set at the point at which the elasticity of demand equals 1 and marginal revenue is positive. C) a wage rate will be set at the point at which marginal revenue equal zero. D) the supply of labor must be inelastic.
If the marginal product of an input is falling, then
A) average fixed cost is constant. B) marginal cost is falling. C) average total cost is constant. D) marginal cost is rising.