During the Great Depression in the 1930s the banking industry was crippled so badly that nearly _____ of the banks failed.
A. 50%
B. 20%
C. 25%
D. 33%
A. 50%
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The competitive firm's long-run supply curve
a. is always perfectly horizontal. b. includes only that part of the long-run marginal cost curve that lies above long-run average cost. c. includes only that part of the long-run marginal cost curve that is sloping upwards. d. is identical to its long-run average cost curve.
The president of the United States can obtain a court injunction that will stop a strike for an 80-day "cooling-off"period if the strike is expected to imperil national safety or health. This power is granted in the
A) Wagner Act. B) Landrum-Griffin Act. C) National Industrial Recovery Act. D) Taft-Hartley Act.
What type of elasticity, when the quantity drops by less than 10 percent, the total revenue increases by less than 10 percent?
a. elastic b. inelastic c. unit elastic d. perfectly elastic
Based on this figure, if the krone exchange rate is fixed at $0.09 dollars per krone, the krone is:
A. devalued. B. undervalued. C. revalued. D. overvalued.