During the Great Depression in the 1930s the banking industry was crippled so badly that nearly ________ of the banks failed.
A. 20%
B. 33%
C. 50%
D. 25%
Answer: C
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Price ceilings are adopted in most cases because
A) the government views the current equilibrium price as too high for consumers. B) the government wants to create surpluses. C) the government favors a non-intervention policy. D) producers need incentives to produce more of the good or service.
Bob's new startup goes public and sells shares of future profits. Bob's startup is best described as a a. saver or as a supplier of funds
b. saver or as a demander of funds. c. borrower or as a supplier of funds. d. borrower or as a demander of funds.
In the United States, which of the following is NOT a generally accepted economic function of government?
A. providing public goods B. promoting competition in the marketplace C. distributing consumer goods D. ensuring economy-wide stability
Which of the following is NOT a true statement about the Lorenz curve?
A) The Lorenz curve includes both money income and income in kind. B) The Lorenz curve does not include unreported income obtained from the underground economy. C) The Lorenz curve does not consider different sizes of households. D) The Lorenz curve does not consider age differences among wage earners.