The aspect of the Second Banking Crisis of the 1930s that distinguished it from the First Banking Crisis was that during the second crisis ___
a. the Federal Reserve finally decided to act as lender of last resort
b. the stock market boom finally came to an end with the crash
c. banks in all regions of the country failed
d. President Roosevelt asked Congress to establish Federal deposit insurance
c. banks in all regions of the country failed
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Using the above figure, the perfectly competitive firm should shut down if the market price is below
A) P1. B) P2. C) P3. D) P4.
The portion of the GDP that takes the form of consumer goods and services is approximately
a. one-fourth. b. one-third. c. one-half. d. seven-tenths.
For a perfectly competitive firm, marginal revenue is identical to marginal cost at every quantity
Indicate whether the statement is true or false
Refer to the above graphs. Pizza and beer are the only two goods Jon consumes. The price of beer is $2.00 per pitcher and pizza is $1.25 per slice. If Jon has only $10 to spend for the evening, which graph represents the set of possible combinations of beer and pizza he can consume?
A. Graph A B. Graph B C. Graph C D. Graph D