Which of the following correctly portrays a bank's balance sheet?
A. Total Bank Assets = Total Bank Liabilities + Total Bank Capital
B. Total Bank Assets = Total Bank Capital - Total Bank Liabilities
C. Total Bank Liabilities = Total Bank Capital + Total Bank Assets
D. Total Bank Assets = Total Bank Liabilities - Total Bank Capital
Answer: A
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Technological advancements in the antebellum period were
(a) constant and stable. (b) almost non-existent. (c) concentrated in manufacturing. (d) slow in coming but labor-saving—especially in agriculture—when they emerged.
Holding supply constant, a reduction in demand leads to
A) lower prices and higher quantity supplied. B) lower prices and lower quantity supplied. C) higher prices and higher quantity supplied. D) higher prices and lower quantity supplied.
As a manager holding an auction with correlated or common values, you want buyers to place bids that are ________ their estimated valuations and sellers to place bids that are ________ their estimated costs.
A) close to; close to B) close to; far from C) far from; close to D) far from; far from
Prices serve the public interest by
A. making resource owners wealthy. B. rationing scarce resources. C. keeping poor people from purchasing more than they can afford. D. forcing the government to participate in the market.