If a hurricane were to wipe out the majority of the eastern seaboard in the United States, it would likely cause a:
A. short-run supply shock.
B. long-run supply shock.
C. long-run demand shock.
D. short-run demand shock.
Answer: B
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Critics of nationwide banking fear
A) an elimination of community banks. B) increased lending to small businesses. C) cutthroat competition. D) banks with economies of scale problems.
A type of ________ problem that occurs when a person or institution has multiple objectives that conflict with each other is called ________
A) moral hazard; conflicts of interest B) adverse selection; conflicts of interest C) moral hazard; spinning D) adverse selection; spinning
The study of how society manages its scarce resources is most closely associated with which field of study?
a. environmental studies b. economics c. management d. accounting
In a self-regulating economy, a recessionary gap will be eliminated by falling wages which will shift the SRAS curve to the right
Indicate whether the statement is true or false