According to Freidman and Schwartz, the most important structural change in the banking system to result from the 1933 panic:
a. were laws barring short calls on equities.
b. was Federal insurance of bank deposits.
c. was an unprecedented increase in regulation.
d. was the loss of public confidence.
b. was Federal insurance of bank deposits.
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If one day it was discovered that lime juice caused cancer, which of the following would likely result?
A) The supply curve for lime juice would shift to the right. B) The supply curve for lime juice would shift to the left. C) The demand curve for lime juice would shift to the right. D) The demand curve for lime juice would shift to the left.
All solutions to market failures in markets for public goods or common resources:
A. try to force the internalization of externalities. B. must be provided by the government. C. are not perfect, and total surplus cannot be maximized in these markets. D. need to be accepted by the affected parties to be effective.
Refer to the following figure.
Geri likes avocados; each additional avocado she consumes adds as much to her total utility as did the previous one. Which of the four graphs best represents Geri's marginal utility curve for avocados?
A. A B. B C. C D. D
The limits to the production of any good are reflected in the:
a) Capacity curve. b) Production function. c) Demand curve. d) Law of demand.