When a firm experiences continually declining average total costs, the firm is a
a. government-created monopoly.
b. price taker.
c. natural monopoly.
d. revenue maximizer.
c
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Claims that economic agents have against banks are known as:
A) assets. B) capital. C) deposits. D) liabilities.
Aggregate output is ________ related to autonomous consumer expenditure, and is ________ related to the level of taxes
A) negatively; negatively B) negatively; positively C) positively; negatively D) positively; positively
Lenders in the shadow banking system
A) are protected from loss by the FDIC. B) lack insurance to protect them from loss if the borrower becomes insolvent. C) are not subject to the bank runs or panics that can affect commercial banks. D) are protected by the Federal Reserve and the U.S. Treasury Department should they suffer losses due to bad investment decisions.
What did the Lever Food Control Act of 1917 give the U.S. federal government the power to do?
(a) Take over factories during periods of war (b) Inspect meat-packing plants and control the quality of work completed (c) Buy, sell and distribute food during times of peace (d) Seize Congressional control over food-related production