Which of the following institutions does not provide checkable-deposit services to the general public?
A. credit unions
B. savings and loan associations
C. commercial banks
D. U.S. Treasury
Answer: D
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Which of the following do a monopolist and a competitive firm generally have in common?
A. predatory pricing B. barriers to entry C. marginal cost pricing D. the quest for profits
Consider Figure 8.9. The outcome of the game will be that:
A. both choose a high price. B. both choose a low price. C. Becky chooses a high price and David chooses a low price. D. David chooses a high price and Becky chooses a low price.
Dead capital is
A. a capital resource associated with the defense industry. B. a capital resource that is obsolete. C. a capital resource that lacks a clear title of ownership. D. a capital resource that is used to produce non-competitive products.
Refer to Figure 12-11. Suppose the prevailing price is $20 and the firm is currently producing 1,350 units. In the long-run equilibrium, the firm represented in the diagram
A) will continue to produce the same quantity. B) will reduce its output to 750 units. C) will reduce its output to 1,100 units. D) will cease to exist.