Fiat money refers to a monetary system in which gold backs up paper money
Indicate whether the statement is true or false
FALSE
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One of the risks of maturity transformation is that:
A) it can increase the rate of inflation. B) it reduces the profitability of banks. C) it can lead to bank runs. D) it discourages savings.
If an improvement in production technology causes a decrease in production costs, the result is a(n)
a. decrease in quantity supplied b. increase in demand c. increase in supply d. improvement is working conditions e. increase in quantity supplied
When economic profits are zero in equilibrium, the firm's revenue must be sufficient to cover all opportunity costs
a. True b. False Indicate whether the statement is true or false
It is _______ that protection makes a nation worse off because it induces the firms in that nation to produce more of the goods that are costly to make and; it is _____ that one nation can gain from international trade only at the expense of other nations.
A. true; true B. false; false C. false; true D. true; false