Regarding IBFs, which of the following is correct?
A) not subject to reserve requirements
B) not subject to interest rate regulations
C) were created to permit U.S. banking offices to compete with offshore banks without having to use an offshore banking office
D) All of the above.
D
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The principle marginal revenue equal-marginal-cost rule for maximizing profit
A) does not apply to firms in the monopoly or oligopolistic industries. B) applies only for firm in perfect competition but not in monopolistic competition. C) applies to new firms but not to existing firms in an industry. D) applies to all the firms in all industries.
Suppose the market for good X has a four-firm concentration ratio of 0.70. Having worked for the four largest firms in the industry, you know the sales for these four firms are given by $2,000,000, $2,250,000, $2,500,000, and $2,750,000. Based on this information, we know that sales for the remaining firms in the industry are:
A. $5,505,000. B. $6,875,000. C. $4,071,430. D. $9,433,320.