The U.S. has many banks because:
A. the Great Depression caused the failure of the large banks, leaving many small banks.
B. the Glass-Steagall Act forced the splitting up of large banks.
C. small banks are more profitable than large banks.
D. many states outlawed bank branching.
Answer: D
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If a monopoly's demand curve shifts to the right, the monopoly
A) will charge a higher price. B) will charge a lower price. C) will sell more. D) decision cannot be determined.
Municipalities that have adopted the policy of "rent control" typically set the rentals on certain apartments well below equilibrium. As a result,
A) landlords have a difficult time finding tenants. B) prospective tenants have a difficult time finding available apartments. C) there is a surplus of apartments. D) All of the above.
A price floor set below the equilibrium price causes quantity supplied to exceed quantity demanded
a. True b. False Indicate whether the statement is true or false
James offers you $1,000 today or $X in 7 years. If the interest rate is 4.5 percent, then you would prefer to take the $1,000 today if and only if
a. X < 1,045.00. b. X < 1,188.89. c. X < 1,266.67. d. X < 1,360.86.