The roles fulfilled by commercial banks and investment banks are:
A. not allowed to be done by the same bank.
B. rarely done by the same bank.
C. often done by the same bank.
D. always done by the same bank.
B. rarely done by the same bank.
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Suppose all firms have constant marginal costs that are the same for each firm in the short run. In this case, the market level supply curve is ________ and producer surplus equals ________:
A) perfectly inelastic, fixed costs B) perfectly inelastic, zero C) perfectly elastic, fixed costs D) perfectly elastic, zero
In an open economy with few capital restrictions and substantial import-export trade, a rise in interest rates and a decline in the producer price index of inflation will
a. raise the value of the currency b. lower the nominal interest rate c. increase the volume of trading in the foreign exchange market d. lower the trade-weighted exchange rate e. increase consumer inflation.
Land, labor, and capital are bought and sold in the product market.
Answer the following statement true (T) or false (F)
What will make a change in demand cause a large change in price?
What will be an ideal response?