A "universal bank"
a. has branches in many countries.
b. the same as a U.S. commercial bank.
c. performs both traditional banking and merchant-banking functions.
d. none of the above.
e. all of the above
C
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In the above figure for a monopolistically competitive firm, the total cost at the profit-maximizing point is
A) $480. B) $400. C) $540. D) $880.
The shape of the costs curves may be traced back to
A) the law of diminishing marginal utility. B) the difference between the short run and the long run. C) the law of diminishing marginal returns. D) the fact that all production occurs in the long run.
Which of the following is an example of an automatic stabilizer?
A. The reduction in the money supply that occurs as banks become less willing to make loans during a recession B. The reduction in real wages that occurs as the economy goes into a recession C. The increase in government spending that occurs as the result of new spending bills passed by Congress D. The rise in tax revenue that occurs as a result of growth in real GDP
Which of the following supermarket strategies to increase sales would be most consistent with a neoclassical economics (versus behavioral economics) approach?
A. Holding posted prices constant but reducing package sizes. B. Providing discounts for buying in bulk. C. Placing the most frequently purchased items at the back of the store. D. Positioning high-profit kids cereals on the lower shelves of the cereal aisle.