In the 1970s, U.S. consumers transferred their deposits from accounts in banks and thrifts to money market mutual funds because money market mutual funds:
a. were more liquid.
b. were less risky.
c. paid higher interest rates.
d. were guaranteed for a larger amount.
e. were more liquid and paid higher interest rates.
Question 2
A breakthrough in technology is most likely to:
a. reduce the labor needed to produce a given amount of output.
b. decrease the demand for all goods and services in a country.
c. increase the cost of production for a firm.
d. reduce the availability of skilled workers.
e. lower the standard of living in a country in the long run.
