A run on a bank may occur if
a. depositors withdraw some funds to invest in the stock market.
b. required reserves are increased.
c. interest rates are raised.
d. depositors lose confidence in the bank and attempt to withdraw all their funds.
e. All of the above are correct.
d
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Which United States President is most closely linked with "The Great Society"?
a. Franklin D. Roosevelt b. Lyndon Johnson c. Richard Nixon d. Ronald Reagan
An important reversal has created a new trend in economic inequality, which is that
a. wealth gaps between countries are now increasing. b. wealth gaps within states are now increasing. c. gaps in wealth are now smallest among the most populated nations. d. gaps in wealth are now no longer prominent or influential.
Assume that a grower of flower bulbs sells its annual output of bulbs to an Internet retailer for $80,000. The retailer, in turn, brings in $155,000 from selling the bulbs directly to final customers. What amount would these two transactions add to personal consumption expenditures and thus to GDP during the year?
What will be an ideal response?
For product X, the price elasticity of demand has an absolute value of 3.5. This means that quantity demanded will increase by
A. 3.5 units for each $1 decrease in price, ceteris paribus. B. 1 percent for each 3.5 percent decrease in price, ceteris paribus. C. 1 unit for each $3.50 decrease in price, ceteris paribus. D. 3.5 percent for each 1 percent decrease in price, ceteris paribus.