The fact that banks can be either nationally or state chartered creates:
A. situations where some banks go unregulated.
B. banks being simultaneously regulated by more than one agency.
C. situations where banks operating in more than one state can escape regulation.
D. regulatory competition.
Answer: D
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If prices are held above the equilibrium price:
A) social surplus is maximized. B) all firms incur losses. C) there exists a surplus in the market. D) there exists a shortage in the market.
In this graph, how does the expansionary policy influence short run aggregate supply?
a. It prevents the short run aggregate supply curve from moving.
b. It shifts the short run aggregate supply curve to the left.
c. It shifts the short run aggregate supply curve to the right.
d. It changes the slope of the short run aggregate supply curve.
Ramon is able to buy gas at the price ceiling rate. In which section of this graph would his purchase be located?
a. between 0 and QS
b. between QS and Q2
c. between Q2 and QD
d. between QS and QD
After having a monopoly in the diamond market for many years, by 2000, De Beers faced competition from other companies. To maintain its market share, De Beers
A) began buying so-called "blood diamonds" in order to keep these diamonds out of the control of other diamond companies. B) adopted a strategy of differentiating its diamonds. Each of its diamonds is now marked with a microscopic brand. C) bought diamond mines in Canada and Russia that had been its competitors. D) lowered the prices of its diamonds to make the market appear less profitable to potential competitors.