Banks differ from other types of businesses because banks:
a. earn profits
b. combine economic resources to produce services.
c. can go out of business.
d. can create money.
e. are regulated by the government.
d
You might also like to view...
What act of Congress declared restraint of trade illegal and declared any attempt at monopolizing unlawful?
a. the Celler-Kefauver Anti-Merger Act b. the Sherman Antitrust Act c. the Clayton Act d. the Wheeler-Lea Act e. the Clayton-Celler Act
Consider a competitive industry and a price-taking firm that produces in that industry. The market demand and supply functions are estimated to be: Demand: Qd = 10,000 ? 10,000P + 1.0MSupply: Qs = 80,000 + 10,000P ? 4,000PIwhere Q is quantity, P is the price of the product, M is income, and PI is the input price. The manager of the perfectly competitive firm uses time-series data to obtain the following forecasted values of M and PI for 2015:
= $50,000 and 
I = $20The manager also estimates the average variable cost function to beAVC = 3.0 ?
0.0027Q + 0.0000009Q2Total fixed costs will be $2,000 in 2015. The marginal cost function is: A. SMC = 3.0 ? 0.0054Q + 0.0000018Q2 B. SMC = 3.0 ? 0.0027Q + 0.0000009Q2 C. SMC = 3.0 ? 0.00135Q + 0.00000045Q2 D. SMC = 3.0Q ? 0.0027Q2 + 0.0000009Q3 E. none of the above
A price increase causes a consumer's "real" income to:
A. increase. B. remain unchanged. C. decrease. D. vary along the budget line.
Refer to Figure 15-4. What is the profit-maximizing/loss-minimizing output level?
A) 600 units B) 800 units C) 940 units D) 1,160 units