If a foreign bank operates a subsidiary bank in the U.S., the subsidiary bank is
A) subject to the same regulations as a U.S. owned bank.
B) only subject to the regulations of the country in which the foreign bank is chartered.
C) restricted to making loans to only foreign citizens in the U.S.
D) restricted to accepting deposits from foreign citizens living in the U.S.
A
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If there is an advancement in the technology used to produce a product, what is the likely effect it may have on the supply?
A) The company would not change its manufacturing. B) It would increase the supply. C) It would decrease the supply. D) More people would be needed to produce the product.
If a good has many close substitutes, then its demand is most likely
A) elastic. B) inelastic. C) unit elastic. D) perfectly inelastic. E) elastic or inelastic depending on whether the price of the good is increasing or decreasing.
The above figure shows the market for pizza. The market is in equilibrium. Pizza and tacos are substitutes for consumers. The price of tacos falls. What point represents the most likely new price and quantity?
A) A B) B C) C D) D E) E
Many communities have granted monopoly rights to cable companies. This is an example of a monopoly created through: a. government licensing
b. ownership of the cable resources. c. patent protection. d. smart business practices by shrewd entrepreneurs.