Which were among the important reforms of the banking system that resulted from the financial crisis of the 1920 and 1930s?
a. the Glass-Steagall Act
b. the prohibition of interest payments on bank deposits
c. the separation of commercial banking from investment banking
d. All of the above are correct.
e. Only a and c are correct.
d. All of the above are correct.
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Refer to the table above. Identify the correct statement
A) Country X has an absolute advantage in the production of both the goods. B) Country Y has a comparative advantage in the production of both goods. C) Country X has an absolute advantage only in the production of wheat. D) Country Y has an absolute advantage in the production of both goods.
Comment on the following statement: "Firms should maximize the difference between marginal revenue and marginal cost."
What will be an ideal response?
The reward for forgoing present consumption is
a. rent b. profit c. roundabout production d. transfer payment e. interest
Refer to the above figure. If the government uses rate-of-return regulation for the natural monopolist, the firm will charge price
A. P1 and sell Q4 units. B. P3 and sell Q3 units. C. P5 and sell Q1 units. D. P2 and sell Q1 units.