Which of the following occurred following the failure of the Bank of the United States in 1930?
A) Interest rates on low-grade corporate bonds rose relative to high-rated corporate bonds.
B) Other banks in New York City suffered liquidity problems.
C) A bank panic ensued within days.
D) The stock market crashed.
A
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Break-even quantity is a point where
a. Level of profit is maximized b. Level of cost is minimized c. Only variable costs are covered d. There is neither a profit nor a loss
Suppose that the average price of refrigerators has fallen over the past few years, yet the refrigerator companies have offered more and more of them for sale. Does this mean that the supply curve for refrigerators is downward sloping? Explain
What is the antithesis of the rule of law?
A) Arbitrary governance
B) Governance according to the will of whoever is in charge
C) Both of the above.
D) None of the above.
Which of the following DOES NOT contribute to the market power of a firm?
A) number of available substitutes B) the color of the product C) legal protections D) the number of firms in the market