The process by which simultaneous withdrawals by a particular bank's depositors results in the bank closing is known as a
A) contagion.
B) bank run.
C) financial crisis.
D) bank panic.
B
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Economies of scale in nuclear power plants exist because of
A) more efficient plant management. B) a better understanding of the plant's idiosyncrasies, or learning-by-doing. C) nuclear power technology changes. D) both A and B.
According to the quantity theory of money, changes in the price level are the result of changes in the
A) prime interest rate. B) real interest rate. C) quantity of money. D) velocity of circulation.
Refer to Figure 2-13. Which two arrows in the diagram depict the following transaction: Stanley purchases the novel, "Night of Sorrows" for his summer reading pleasure
A) J and M B) K and M C) K and G D) J and G
The demand for science fiction novels is elastic. When prices decrease from $10 to $6.50 per novel, total revenue will
a. not change. b. decrease. c. increase. d. either increase or stay the same.