The banking industry is heavily regulated because
a. banking is a monopoly industry.
b. most banks are owned by government agencies.
c. bankers do what is best for their stockholders, not necessarily what is best for the economy.
d. All of the above are correct.
c
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The figure above shows the costs for a grower in the perfectly competitive turnip industry. If the price is $1,400 for a ton of turnips, the firm is
A) making an economic profit. B) making zero economic profit. C) incurring an economic loss. D) More information is needed to determine if the firm is making a positive economic profit, zero economic profit, or incurring an economic loss.
The antitrust laws regulate all of the following business decisions except ____
a. collusion b. mergers c. monopolistic practices d. price discrimination e. wage levels