Which of the following statements about the FDIC is untrue?
a. The FDIC helps prevent bank failures.
b. The FDIC was created after the surge in bank failures in the 1980s.
c. The FDIC is a government agency.
d. The FDIC will reimburse depositors for their losses up to $100,000 per demand deposit account
e. The FDIC conducts bank audits and examinations.
B
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According to the graph shown, if the government decides to increase taxes, it is most likely at equilibrium:
A. A
B. B
C. C
D. D
A new U.S. tariff on imported steel would be likely to: a. raise the cost of production to steel-using American firms. b. generate tax revenue to the government
c. increase U.S. production of steel. d. all of the above
After the American Civil War, many prominent Southerners lamented the fact that the South "overproduced" cotton and "underproduced" food. In fact, the South did import a very large percentage of its food. Nevertheless, rather than reduce cotton production and grow more food, Southern farmers did the opposite because
a. they were irrational and distraught over the loss of slavery. b. the South had a comparative advantage in cotton production. c. the North had a comparative advantage in cotton production. d. corn was absolutely cheaper to produce in the North.
Explain the relationship between ?TC/?q and ?VC/?q.
What will be an ideal response?