ECN 1500 Exam 3 Questions and Correct Answers 100% Verified 2024/2025

ECN 1500 Exam 3 Questions and Correct Answers 100% Verified 2024/2025 The financial sector A. Makes specialization in the real side of the economy easier. B. Makes saving easier C. Promotes investment. D. All of the above are correct. - Correct Answer D A sophisticated financial sector, A. Is associated with high income nations B. Will typically be associated with low investment rates. C. Is a small sector in the U.S economy. D. All of the above are correct. - Correct Answer A . __________ is part of the real sector of the economy and ________ is part of the financial sector. A. Ranching; farming B. Teaching; trading government securities C. Trading stocks; removing tonsils. D. Banking; fishing - Correct Answer B Olga who had 10 pounds of gold and issued 100 notes on animal skins which promised a pound of gold to the holder of the note: A. Was issuing fiat money. B. Was engaging in fractional reserve banking. C. Was applying a reserve requirement of 10 percent. D. All of the above are correct. - Correct Answer D Money as an asset is unique since it A. Is a store of wealth.