Interbank trading is:
a. a monopoly business in the United States.
b. controlled by just 10 banks.
c. a state-mandated business.
d. a highly competitive market, with hundreds of banks offering services.
Ans: b. controlled by just 10 banks.
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Economic growth is:
A. an increase in our economy's potential output. B. represented by the long-run aggregate supply curve shifting to the right. C. a result of having more natural resources, land or capital. D. All of these are true.
Suppose that soup is measured on the horizontal axis and bread is measured on the vertical axis. At an interior solution:
A. MRSSB = PS/PB. B. MRSSB = - PS/PB. C. MRSSB = PB/PS. D. MRSSB = - PB/PS.
A demand curve for concert tickets would show the
What will be an ideal response?
Two of the bizarre taxes mentioned in this chapter's Snapshot were the Flush Tax and the Window Tax. Which of the following statements is true based on the description of these taxes shown here?
A. The deadweight loss is the same for the Flush Tax and the Window Tax.
B. The deadweight loss is greater for the Window Tax.
C. The deadweight loss is greater for the Flush Tax.
D. There is no way to calculate the deadweight loss for both taxes given the information provided.