Experts predict that the future structure of the U.S. banking industry will have
A) an increased number of banks.
B) as few as ten banks.
C) several thousand banks.
D) a few hundred banks.
C
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Firms do not change prices frequently because:
A. it is costly to do so. B. customers will refuse to patronize firms that change prices frequently. C. it is easier to change the quantity of capital used in production. D. there are legal prohibitions against doing so.
If the social cost is greater than the private cost in a particular market, the socially optimal equilibrium will be at a quantity:
A. greater than the private level. B. equal to the private level. C. less than the private level. D. greater than or less than the private level, depending on the size of the external costs.
When deciding whether to engage in an activity or how much to do, people should follow:
A. the principle of microeconomics. B. the principle of macroeconomics. C. the marginal principle. D. the law of supply and demand.
Which of the following is an assumption made by the dynamic model of aggregate demand and aggregate supply?
A) Aggregate demand and potential real GDP decrease continuously. B) The aggregate demand curve shifts to the right except during periods when workers and firms expect higher wages. C) Potential real GDP increases continuously during economic expansions and decreases continuously during economic recessions. D) The short-run aggregate supply curve shifts to the right except during periods when workers and firms expect higher wages.