Why does the United States have more banks than most other highly industrialized countries?
What will be an ideal response?
The United States, for many years, had laws that prohibited banks from branching out either beyond one bank or their local city. As a result, as the country grew so did the number of banks.
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The opportunity cost of a movement from point N to J would
A. be the lost production of some capital goods.
B. be the lost production of some consumer goods.
C. be slower economic growth in the future.
D. not involve any sacrifice of either capital or consumer goods.
A recession causes a decrease in the demand for housing, resulting in substantial layoffs in the construction industry. This is an example of
A) cyclical unemployment. B) frictional unemployment. C) seasonal unemployment. D) structural unemployment.
Between 1830 and 1860, the number of miles of railroad in operation increased by
a. roughly 100 percent. b. roughly 500 percent. c. roughly 750 percent. d. over 1000 percent.
Rent is defined as the
a. payment received for the use of an asset b. cost to an entrepreneur for using his or her own resources c. difference between what a resource receives and the cost of bringing that resource into production d. difference between the total revenue earned from selling a good and the cost of bringing the good into being e. selling value of land