The U.S. banks have grown primarily through:
a. America's longstanding preference for big banks.
b. surviving banks buying up bankrupt banks
c. excellent customer service.
d. mergers and acquisitions.
e. deposit insurance policy.
d
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Evaluate the following two statements: "He is income rich but he is not very wealthy" "He is income poor but he is wealthy"
What will be an ideal response?
Most economists reject the theory of rational expectations because
a. expectations adjust very quickly. b. workers receive wage increases in advance of inflation. c. the short-run aggregate supply curve is vertical. d. labor contracts tend to embody past inflation rates.
Temporary monopolies via the provision of sole ownership rights to profit from the production, use, or sale of a good are provided by:
A. profit-maximizing behavior. B. network externalities. C. patents and copyrights. D. natural monopolies.
There are hundreds of companies in the business of providing natural gas to residential users. For the most part, these local gas companies each only serve their local community, so they buy in very competitive markets but sell locally and without competitors. The wholesale market is therefore likely to be
A. monopoly. B. oligopoly. C. monopolistic competition. D. perfect competition.