The major protection against sudden mass attempt to withdraw cash from banks is the:
A. Federal Reserve.
B. Consumer Protection Act.
C. deposit insurance provided by the FDIC.
D. gold and silver backing the dollar.
Answer: C
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In the long run, a profit-maximizing monopolist
A. earns zero economic profit. B. produces the same amount as a perfectly competitive industry. C. receives a higher price for his output than a perfectly competitive firm. D. produces at the output level that minimizes his long-run average total cost.
If purchases of foreign assets by U.S. residents exceed purchases of U.S. assets by foreign residents, then U.S. net capital outflow is positive
a. True b. False Indicate whether the statement is true or false
The convergence hypothesis explains
A. the shrinking gap between income levels of poor and rich countries. B. the ability of firms to profit maximize and cost minimize. C. the willingness of countries to reduce environmental damage after an income level has been attained. D. the similarities between cultures.
A ______ market is one in which a number of buyers and sellers are offering similar products, and no single buyer or seller can influence the market price.
a. bullish b. command c. competitive d. regulated