Most of the bank failures in the 1980s and 1990s occurred
a. in states that were rural and in states where the oil industry was important
b. in states where there was a large level of new investment in commercial property
c. in states with large urban populations such as New York, Michigan, and Pennsylvania
d. because of mismanagement, having little to do with the state of the economy
e. in states where the population was growing very slowly or actually declining
A
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The market structure that is characterized by a small number of large firms that have some market power is called:
A) perfect competition. B) monopolistic competition. C) oligopoly. D) monopoly.
The portfolio demand for money reflects:
A. the money we hold for our everyday transactions. B. the money we hold for our everyday transactions and the money we hold to purchase stocks and bonds and other financial securities. C. the portion of wealth people desire to hold in the form of money. D. the money we hold to purchase stocks and bonds and other financial securities.
Tom produces baseball gloves and baseball bats. Steve also produces baseball gloves and baseball bats, but Tom is better at producing both goods. In this case, trade could
a. benefit both Steve and Tom. b. benefit Steve, but not Tom. c. benefit Tom, but not Steve. d. benefit neither Steve nor Tom.
Net exports must equal zero for any economy
a. that is closed. b. for which Y = C + I + G. c. for which S = Y - C - G. d. All of the above are correct.