Regarding business conditions during the 1930s, which of the following events did not occur?
(a) The number of patents applied for declined.
(b) The number of mergers between companies increased in an attempt to increase
their consolidated strength.
(c) Some interest rates, such as the prime rate, fell to less than 1%.
(d) In the early years of the Depression, business investment spending on plants and
equipment was not enough to increase or maintain the country's capital stock.
(b)
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An argument in favor of 100 percent reserve banking is that
A) a bank deposit is owned by the depositor, so the bank has no legal right to lend the deposit to someone else. B) banks should be allowed to lend deposits in order to increase their profits and strengthen the banking system. C) unregulated institutions would be riskier than regulated fractional-reserve banks. D) it would limit the precision of the central bank's control over the quantity of money.
If equilibrium is achieved in a competitive market
A) there is no deadweight loss. B) the deadweight loss will equal the sum of consumer surplus and producer surplus. C) the deadweight loss will be the same as the opportunity cost of the last unit of output sold. D) the deadweight loss will be maximized.
Growth in labor productivity in health care has been ________ labor productivity in the economy as a whole
A) slightly faster than B) approximately equal to C) less than half as fast as D) almost twice as fast as
The MRP is
A. the demand curve for labor for the entire market. B. the demand curve for labor for an individual firm. C. the supply curve of labor for an individual firm. D. the supply curve of labor for the entire market.