A bank run involves a large flow of money
A. into bank depositors’ accounts.
B. into checking and savings accounts.
C. out of depositors’ accounts.
D. out of individuals’ cash reserves into money market funds.
Answer: C
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An antitrust agency is identifying the product market for Good X and determines that Good X and Good Y have a cross-price elasticity of 18.6. As a result of the cross-price elasticity, the antitrust agency is likely to ________ Good Y from Good X's product market as the products ________ compete as close substitutes.
A) include; do not B) exclude; do C) exclude; do not D) include; do
Theoretically, a tariff imposed to protect an infant industry should be removed
a. within five years. b. when the industry becomes sufficiently diversified. c. when prices charged reflect production costs. d. when the industry has matured.
The textbook cites a study comparing a group of consumers with first-dollar coverage to a group with a $1,000 deductible. The study results indicate that those with the deductible spent _____ on health care and had ________ health outcomes relative to those with first-dollar coverage.
A. more; better B. more; the same C. less; worse D. less; the same
The difference between public goods and private goods rests on technical considerations of exclusion of use and not political philosophy.
Answer the following statement true (T) or false (F)