WTO talks in the late 1990s led to openings in both financial services and telecommunications
Indicate whether the statement is true or false
TRUE
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Conventional wisdom holds that there are __________ in banking
A) economies of scope but not scale B) economies of scale but not scope C) economies of both scope and scale D) neither scope nor scale economies
Long-run equilibrium for a monopolistic competitor is characterized by
A) a price exceeding marginal cost. B) marginal cost pricing. C) economic profits. D) too few firms in the industry.
Which of the following will be the most likely impact of an unanticipated increase in the money supply?
What will be an ideal response?
The Great Depression
A) is a very serious recession in U.S. history in which national income fell by 10 percent B) was the most serious recession in U.S. history until the more recent "Great Recession" C) imposed great hardships on households because the unemployment rate exceeded 20 percent D) all of the above