The Federal Deposit Insurance Corporation helps to reduce the number of bank failures because
a. of its rule that individuals cannot make a run on a bank
b. it promises to reimburse up to $10,000 of lost deposits in an account
c. depositors will be secure in the fact that their deposits are protected
d. it pays attention to the changes in the economy
e. it is a soothing agent for individuals who have accounts over $100,000
C
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A 5 percent increase in income leads to a 10 percent decrease in quantity demanded for a service. This service is a(n) __________ good and demand is __________
a. normal; elastic b. normal; inelastic c. normal; unit elastic d. inferior; elastic e. inferior; inelastic
Productivity
a. is nearly the same across countries, and so provides no help explaining differences in the standard of living across countries. b. explains very little of the differences in the standard of living across countries. c. explains some, but not most of the differences in the standard of living across countries. d. explains most of the differences in the standard of living across countries.
Steep Upward-Slope of yield curve so expect _____ interest rates
Fill in the blank(s) with the appropriate word(s).
All of the following are characteristics of a perfectly competitive market EXCEPT
A. buyers and seller have equal access to information. B. high barriers to entry and exit. C. large number of buyers and sellers. D. homogeneous products.