A bank failure occurs when a bank
a. cannot call in its loans
b. spends all of its reserves
c. is unable to meet its depositors' requests to withdraw funds
d. cannot make any more loans
e. makes bad loans
C
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The government imposes a sales tax on hot dogs. The tax would be paid entirely by the hot dog buyers if the
A) supply is perfectly elastic. B) supply is perfectly inelastic. C) demand is perfectly elastic. D) None of the above answers is correct.
A majority of the world's exports are exported to
a. small countries b. less-developed countries c. poor countries d. industrially-developed countries e. the United States
When analyzing a problem, if an economist is attempting to understand why something happened without considering whether or not the action was fair or just, the economist is thinking
A. positively. B. justifiably. C. normatively. D. negatively.
Jim used to be very careful with his car. However, once he bought full auto insurance on it, he stopped turning on his alarm or even locking it when parking it. This is an example of adverse selection.
Answer the following statement true (T) or false (F)