Citizens in the U.S. are not concerned with the financial well-being of their bank due to which of the following?
A. The stability of the economy
B. The FDIC
C. Government regulation of the banking sector
D. The improvement in the reputation of bankers
B. The FDIC
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Public goods create a free-rider problem because the quantity of the good that a person consumes ________ for that good
A) does not depend on the amount that the person pays B) increases as that person pays less C) increases as that person pays more D) decreases as that person pays more
In macroeconomic modelling, as price flexibility increases ________
A) the short-run aggregate supply schedule will get flatter B) the short-run aggregate supply schedule will get steeper C) the short-run aggregate supply schedule will shift to the right D) the short-run aggregate supply schedule will shift to the left
The purchase of U.S. assets by foreigners is a:
a. capital inflow. b. capital outflow. c. current account deficit. d. unilateral transfer.
Assume that one firm in a perfectly competitive market adopts a technological innovation that enables it to produce at a lower cost per unit than competing firms in the short run. Which of the following statements is correct?
a. The innovating firm will earn above-normal profit in the long run. b. All the competing firms will be forced to exit the market in the long run. c. This is an example of a decreasing cost industry. d. Competing firms will need to adopt the new technology in the long run in order to survive. e. Only new firms entering the industry with new-technology plants will be able to compete with the innovating firm.