Competition in U.S. banking has been increased by
a. the expansion of interstate banking.
b. the expansion of foreign bank branches into the United States.
c. the movement of brokerage houses and large corporations into traditional banking activities.
d. All of these.
d. All of these.
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Refer to Figure 2-9. What is the opportunity cost of producing 1 snow cone in Iceland?
A) 2/3 of a popsicle B) 3/4 of a popsicle C) 1 1/2 popsicles D) 180 popsicles
If a firm is in the short run,
a. all its resources are variable. b. it is planning its output for six months. c. it is not possible for a firm to be efficient. d. at least one of the firm’s resources cannot be varied.
The silly clothes worn by a circus clown are an example of
a. market inefficiency b. capital goods c. labor, if it is used by labor exclusively d. human capital e. entrepreneurship, if the clown becomes more creative wearing the clothes
Prior to the Hart-Scott-Rodino Act, antitrust laws did not apply to proprietorships.
Answer the following statement true (T) or false (F)