Which of the following is a function of the lender of last resort?
a. Keeping the velocity of money at a low level
b. Reducing the supply of money and loans in an economy
c. Providing short-term emergency loans in conditions of financial crisis in an economy
d. Increasing the supply of money and the quantity of loans in an economy
c
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Researchers use cost-of-illness studies to
a. study the burden of a disease b. determine the low-cost option to treat a disease c. compare two or more treatment options when the medical outcome is identical d. increase public awareness of cost of treating certain diseases e. All of the above
If a surplus exists in a market, then we know that the actual price is
a. above the equilibrium price, and quantity supplied is greater than quantity demanded. b. above the equilibrium price, and quantity demanded is greater than quantity supplied. c. below the equilibrium price, and quantity demanded is greater than quantity supplied. d. below the equilibrium price, and quantity supplied is greater than quantity demanded.