In our modern financial system, money is created
A) only by central banks.
B) only by the banking system.
C) by central banks and the banking system.
D) only by federal governments.
C
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Bank capital is equal to
A) the value of the capital originally invested in the bank by its owners. B) the value of everything the bank owns. C) the difference between the value of the bank's assets and the value of its liabilities. D) the value of the buildings and other physical assets the bank owns.
Exhibit 9-2 Demand and cost information for a monopoly Q P TC 0 40 10 1 30 15 2 20 25 3 10 40 4 0 60 Refer to Exhibit 9-2. Using the rule that focuses on the marginal approach to maximizing profits, the monopolist maximizes profit by choosing price equal to:
A. $40. B. $20. C. $10. D. $30.
Social promotion suggests that students are
A. only allowed to proceed to the next grade if they meet minimum behavioral standards. B. given an opportunity to go back and take courses to improve their grades. C. only allowed to graduate after taking a state exam. D. granted diplomas for survival rather than for achievement.
Actions that ignore the possible long-run benefits of cooperation and focus solely on short-run gains are
A. a zero-sum game. B. a negative-sum game. C. opportunistic behavior. D. tit-for-tat strategic behavior.