Following the financial crisis in 2008, the Federal government passed the ________, to prevent future financial crises by making major changes to the US financial system.
A. FDIC Improvement Act.
B. Troubled Asset Relief Program.
C. Dodd-Frank Act.
D. Glass-Steagall Act.
Answer: C
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Which of the following is most likely to be an implicit cost for Company X?
A. Rental payments on IBM equipment B. Transportation costs paid to a nearby trucking firm C. Forgone rent from the building owned and used by Company X D. Payments for raw materials purchased from Company Y
Macroeconomics is the branch of economics that focuses on:
a. broad issues such as growth, unemployment, inflation, and trade balance. b. the actions of particular agents within the economy, like households, workers, and business firms. c. the means of production (resources and businesses) that are owned and operated by private individuals or groups of private individuals. d. workers or firms, and whether they are well suited within the overall production process.
Suppose Colin brews beer and makes cheese. If Colin can increase his production of beer without decreasing his production of cheese, then he is producing at an:
A. inefficient point. B. unattainable point. C. efficient point. D. ideal point.
To the extent that brand names developed in monopolistic competition provide a benefit to the consumer, it is:
a. by allowing for a lower total cost. b. through their assurance that the firm will provide a quality product in order to preserve repeated transactions. c. by encouraging the entry of new competitors. d. by allowing the firm to engage in price discrimination.