A wave of bank failures in the United States
A) occurred in the 1970s.
B) occurred from the early 1980s to the early 1990s.
C) occurred from late 1980s to the mid 1990s.
D) has been ongoing since the late 1980s.
B
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High money prices for scarce goods
A) are one among many possible causes of their scarcity. B) are the basic cause of their scarcity. C) are the effect of their scarcity. D) have nothing to do with their scarcity, because almost all goods are scarce.
In the above figure, the relationship between costs indicates that the distance between curves
A) A and B is equal to the fixed cost. B) A and B is equal to the variable cost. C) B and C is equal to the fixed cost. D) B and C is equal to the average total cost.
Individuals who specialize in activities that lower transaction costs are
A) consumers. B) producers. C) bureaucrats. D) middlemen.
On January 1, 2008, Edward invested $10,000 at 5 percent interest for one year. The CPI on January 1, 2008 stood at 1.60. On January 1, 2009, the CPI was 1.76. The real rate of interest earned by Edward was ________ percent.
A. 5 B. -5 C. 10 D. 0