Which of the following is a liability of a bank and an asset of its customers?
a. deposits of its customers and loans to its customers
b. deposits of its customers but not loans to its customers
c. loans of its customers but not the deposits of its customers
d. neither the deposits of its customers nor the loans to its customers
b
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When an exchange-rate crisis befalls a pegged currency, experience suggests that damage to the economy may be minimized by ________
A) appealing to creditors to provide more liquidity B) rapid adoption of a currency board C) abandoning the peg D) launching speculative counter-attacks
If a firm in a perfectly competitive market is producing at a level of output where marginal costs exceed marginal revenue, its profits:
A. must be negative. B. will increase if it produces less. C. are maximized. D. cannot be determined.
Which of the following would be most likely to cause the per capita income of less-developed countries to rise?
A. development of strong labor unions B. more rapid population growth C. investment expenditures that enhance the human capital of labor force participants D. an international minimum wage law
If a firm wanted to know how much it would save by producing one less unit of output, it would look to:
A. MC. B. ATC. C. AVC. D. AFC.