Bank runs are “contagious” in that they often spread to other banks.
Answer the following statement true (T) or false (F)
True
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Sometimes, the taxes with the smallest excess burden are:
a. progressive b. regressive c. proportional d. digressive
During the 1980s and 1990s, the Federal Reserve's monetary policy focused primarily on
a. keeping short-term interest rates low in order to stimulate real output and economic growth. b. a variety of factors, such as unemployment and real GDP, resulting in variable inflation rates throughout this period. c. keeping inflation low and the general price level relatively stable. d. monetary expansion in order to reduce unemployment.
Diseconomies of scale exists over the range of output for which the long-run average cost curve is:
a. rising. b. constant. c. falling. d. None of the answers are correct.
A mixed economy
A. Is justified by the superiority of laissez faire over government intervention. B. Utilizes both market and nonmarket signals to allocate goods and services. C. Is one that allows trade with other countries. D. Relies on the use of central planning by private firms rather than the government.