The Financial Services Modernization Act
a. reinforced the Glass Steal Act.
b. prevented mergers of banks.
c. eliminated barriers between banks, brokerage houses, and insurance companies.
d. eliminated all banking regulations.
c. eliminated barriers between banks, brokerage houses, and insurance companies.
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The 2008-2009 recession began as oil prices increased, and then was followed by a negative demand shock
a. True b. False
Libertarianism identifies a redistribution of income role for government when
a. the utility of the worst-off could be improved. b. the income distribution is altered by illegal means (e.g. theft). c. the total utility for society can be improved through redistribution of income. d. a "veil of ignorance" would result in a recommendation of redistribution of income.
One of the consequences of an agricultural price support program is
A) a surplus. B) more exchanges made at the price support. C) lower prices paid by consumers. D) lower taxes for taxpayers. E) a and c
This figure displays the choices being made by two coffee shops: Starbucks and Dunkin Donuts. Both companies are trying to decide whether or not to expand in an area. The area can handle only one of them expanding, and whoever expands will cause the other to lose some business. If they both expand, the market will be saturated, and neither company will do well. The payoffs are the additional profits (or losses) they will earn.According to the figure shown, Dunkin Donuts:
A. does not have a dominant strategy. B. should not expand, regardless of what Starbucks chooses to do. C. has first-mover advantage. D. should expand, regardless of what Starbucks chooses to do.