The Bank of North America, the Bank of New York, and the Massachusetts Bank were all banks started in the 1780s that are examples of
a. savings and loans
b. asset based banks
c. stock banks
d. state-chartered banks
e. intermediary clearinghouses
D
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If the price is $12 per pizza, the perfectly competitive firm in the above figure is
A) making an economic profit. B) making zero economic profit. C) incurring an economic loss. D) More information about the firm's total cost is needed to determine if the firm has a positive economic profit, zero economic profit, or an economic loss.
The amount of time it takes for fiscal policy to have an impact on the economy creates:
A. a direction lag. B. an implementation lag. C. an information lag. D. a formulation lag.
Repeated games are conducive to
A) explicit cooperation. B) tacit cooperation. C) corruption. D) failing to have a Nash equilibrium.
In the above figure, the equilibrium exchange rate between U.S. dollars and British pounds is
A) A. B) B. C) C. D) W.