When comparing the banking crisis in the United States to the crises in Latin America, cost to the taxpayers of the government bailouts was
A) higher in Latin American than in the United States.
B) higher in the United States than in Latin America.
C) about the same in both Latin America and the United States.
D) positive in Latin America but negative in the United States.
A
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If consumers would be willing to purchase the same quantity of a good no matter what its price was, the demand curve would
a. be a vertical line, and demand would be perfectly inelastic. b. be a horizontal line, and the demand would be perfectly elastic. c. not exist. d. be identical to the supply curve for the good.
A firms' total cost is $500 when its quantity is 80 units. Its total cost increases to $510 when its quantity increases to 81 units. What is the firm's marginal cost?
a. 6.25 b. 10 c. 5 d. 6.29 e. none of the above
If consumers receive an increase in income of $1,000, their spending will increase by a smaller amount.
Answer the following statement true (T) or false (F)
Money is channeled from savers to borrowers by banks and other _______.
Fill in the blank(s) with the appropriate word(s).