Bank panics have largely disappeared in the United States because
A) banks are now required to hold a larger fraction of deposits as reserves.
B) of low interest rates.
C) bank loans are more closely monitored by the Federal Reserve.
D) of deposit insurance.
D
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Jack is a prospective buyer of a commodity that Jill is offering to sell. Social surplus in this scenario can be maximized:
A) when only Jack is optimizing. B) when only Jill is optimizing. C) when both Jack and Jill are optimizing. D) when neither Jack nor Jill is optimizing.
Which of the following is the best description of the production possibilities frontier (PPF)?
a. The PPF is a curve showing alternative combinations of goods that can be produced when available resources are used efficiently. b. The PPF is a curve showing the quantity of a good or service supplied by producers at each price level. c. The PPF is a curve showing the changes in output of a good or service brought about by changes in input usage. d. The PPF is a curve showing the different input combinations used to produce a particular good or service.
Suppose that firms are located in a circle on an island. You are given transportation costs, fixed costs, variable costs, and demand (assume that customers are spread evenly along the circle). As the firm's variable costs rise,
A. the number of firms will rise in the long run. B. the number of firms will stay the same in the long run. C. the number of firms will fall in the long run. D. It is impossible to tell from the information given.
Refer to the figure below. Player A can infer that Player B will: 
A. choose Right. B. choose Left when A chooses Up and choose Right when A chooses Down. C. Player A cannot infer anything about what Player B will do given this matrix. D. choose Left.