In the U.S. during the late 1800s and early 1900s, investment banks:
a. emerged to serve the expansion of railroads, mining companies and large manufacturers.
b. issued bank notes.
c. competed with state and national banks for deposits.
d. were required by law to maintain a minimum reserve ratio.
e. All of the above.
a. emerged to serve the expansion of railroads, mining companies and large manufacturers.
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If nominal GDP is less than real GDP, then the GDP deflator will be greater than 100
Indicate whether the statement is true or false
During a football game, it starts to rain and the temperature drops. The senior class, which runs the concession stand and is studying economics, raises the price of coffee from 50 cents to 75 cents a cup. They sell more than ever before. Which answer explains this?
What will be an ideal response?