Money is created when banks _________.
Fill in the blank(s) with the appropriate word(s).
make loans
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A property tax payment made by the owner of an apartment building is a
A) cost irrelevant to rent-setting decisions because it is not affected by supply and demand. B) marginal cost of continuing to own the building. C) marginal cost of supplying rental space. D) marginal overhead cost and will therefore affect rental rates. E) sunk cost and therefore cannot affect rents even in the long run.
The IT industry in Techland has a Herfindahl-Hirschman Index of 1,320. This implies that the IT industry in Techland is ________
A) not concentrated B) moderately concentrated C) highly concentrated D) dominated by a few large buyers
First-mover advantage is:
A. more important in a repeated game than in a sequential game. B. more important in a repeated sequential game than in a one-round sequential game. C. more important to those who have less to bargain with. D. more important in an ultimatum game than in a repeated game.
Todd owns a truck that he values at $2,000 . Susan, who does a lot of hauling, values the truck at $6,000 . If these two are allowed to negotiate, which of the following will most likely occur?
a. Todd will sell the truck for $1,500. b. Susan will buy the truck for $7,000. c. The truck will be sold at a price greater than $2,000 but less than $6,000, and both parties will benefit. d. Susan will benefit more than Todd if the truck is sold.