In recent years the U.S. banking structure has changed in such a way that there are now:
A. fewer branches.
B. fewer banks but more branches.
C. fewer banks and fewer banks with branches.
D. more banks.
Answer: B
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"Being the only seller in the market, the monopolist can choose any price and quantity it desires." Evaluate this statement: Is it true or false? Explain your answer
What will be an ideal response?
The statement, "Violent crime has decreased in the last five years," is:
a. obviously wrong and, therefore, cannot be a positive statement. b. normative since it can be answered by simply looking at the facts. c. positive because it is testable. d. not very interesting because all normative issues are of little importance.
The likelihood of successful collective action:
A. can be lower for large groups. B. can be higher for large groups. C. can be lower for small groups. D. generally does not depend on the size of the group.
Suppose the number of buyers in a market decreases. As a result, would the demand curve in this market shift to the right or to the left?