As the cost of operating ATM machines falls, the demand for bank tellers will decline
a. True
b. False
A
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The Federal Reserve System was created in response to
A) the stock market crash of 1929. B) the ending of the Civil War. C) the banking panic of 1907. D) difficulties of the free-banking era.
When decision rights are decentralized, typically
a. decisions are being moved to those with more of the relevant information b. decisions are being moved to those with stronger incentives to make good decisions c. decisions are being moved from those with more of the relevant information d. decisions are being moved from those with weaker incentives to make good decisions
A surplus in a market exists when there is an excess quantity demanded
a. True b. False Indicate whether the statement is true or false
Consider the market for grapes. An increase in the wage paid to grape pickers will cause the:
A. demand curve for grapes to shift to the right, resulting in a higher equilibrium price for grapes and a reduction in the quantity consumed. B. demand curve for grapes to shift to the left, resulting in a lower equilibrium price for grapes and an increase in the quantity consumed. C. supply curve for grapes to shift to the right, resulting in a lower equilibrium price for grapes and an increase in the quantity consumed. D. supply curve for grapes to shift to the left, resulting in a higher equilibrium price for grapes and a decrease in the quantity consumed.