Market specialization and the rise of the division of labor
A) create important conditions for economic growth.
B) help explain why some nations are wealthier than others.
C) do both of the above.
D) do neither of the above.
C
Economics
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Suppose Warren Buffet withdraws $1 million from his checking account at Chase Bank. If the required reserve ratio is 20 percent, what is the maximum change in deposits in the banking system?
A) -$5 million B) -$4 million C) -$200,000 D) $1 million E) $5 million
Economics
Cheap talk
A) is never credible. B) is illegal. C) generally affects the game's payoffs. D) can be credible when both firms have an incentive to be truthful.
Economics