Which of the following statements is true of the U.S. economy?
A) No bank runs have occurred after 1990 in the U.S. economy.
B) The number of bank runs decreased after the FDIC was established.
C) Almost one-fourth of the U.S. banks failed during the Great Depression.
D) No bank runs have occurred before 1990 in the U.S. economy.
B
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The change in wealth during a period equals:
A. public saving + private saving - transfers. B. saving - investment + capital gains - capital losses. C. saving - capital gains + capital losses. D. saving + capital gains - capital losses.
Based on Table 4.1, according to the Stolper-Samuelson Theorem, the income distribution effects of free trade in the United States are likely to favor
A) capital. B) labor. C) either capital or labor, depending on U.S. productivity. D) neither capital nor labor. E) Not enough information to tell.
At the consumer's optimum
a. the budget constraint will have a slope of MUx/Px. b. it is still possible for the consumer to increase his consumption of both goods. c. the indifference curve will intersect the budget constraint at the midpoint of the budget constraint. d. the slope of the indifference curve is equal to the slope of the budget constraint.
Suppose we know that 10 Spanish Galleons sunk in the Atlantic ocean carrying approximately 50 tons of gold, but the exact location of these shipwrecks is unknown. Would this gold add to the world reserve?
A) Yes, we know it exists. B) No, we know it exists but we can't extract the gold. C) Yes, it's only a matter of time before the shipwrecks are discovered. D) No, there are no established property rights over the shipwreck so they cannot add to world reserves..