Economists call an institution designed to oversee the banking system and regulate the quantity of money in the economy
a. a central bank.
b. a charter bank.
c. a national bank.
d. a state bank.
a
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In the figure above, if income were distributed equally across all households, the poorest 10 percent of households would receive ________ of total income
A) 5 percent B) 10 percent C) 15 percent D) 20 percent
Although advertising raises the price of a monopolistic competitor's product, it does confer a benefit to consumers. Which of the following is a benefit to consumers?
A) Advertised products tend to be of higher quality so consumers feel special when they consume advertised products. B) Advertising engenders brand loyalty. C) Advertising could provide consumers with useful information about new products and enable them to comparison shop. D) Advertising acts as a barrier to entry.
Explain why environmentally minded firms in a competitive industry will find it difficult to take environmental action
Feudalism and mercantilism relied on markets to solve the three main coordination problems.
Answer the following statement true (T) or false (F)