In response to the destructive bank panics of the Great Depression, future bank panics are designed to be prevented by
A) establishing a fractional reserve system of banking.
B) increasing the required reserve ratio to 100%.
C) the establishment of the Federal Deposit Insurance Corporation.
D) the Federal Reserve System conducting open market operations.
E) the Federal Reserve System acting as a lender of last resort.
C
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If the price of a candy bar is $1 and the price of a fast food meal is $5, then the
A) relative price of a candy bar is 5 fast food meals per candy bar. B) money price of a candy bar is 1/5 of a fast food meal per candy bar. C) relative price of a fast food meal is 5 candy bars per fast food meal. D) money price of a fast food meal is 1/5 of a candy bar per fast food meal.
The short-run supply curve for the perfectly competitive firm is the portion of its
A) MC curve above the AVC curve. B) MC curve above the AFC curve. C) MC curve above the ATC curve. D) MC curve above the MR curve.