The aspect of the Second Banking Crisis of the 1930s that distinguished it from the First Banking Crisis was that during the second crisis ___
a. the Federal Reserve finally decided to act as lender of last resort
b. the stock market boom finally came to an end with the crash
c. banks in all regions of the country failed
d. President Roosevelt asked Congress to establish Federal deposit insurance
c. banks in all regions of the country failed
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Helium Sports produces shoes at a factory that is designed to work at the efficient scale of production using a combination of 2 machines and 400 workers. The cost of labor has recently increased by 25%. In the given situation, which of the following steps should the company take?
a. Helium Sports should reduce production quantity to keep costs under control. b. Helium Sports should lower prices on their shoes to increase demand. c. Helium Sports should make changes to lower the opportunity costs. d. Helium Sports should update the factory with machines that require fewer workers.
In an imperfectly competitive output market, the firm is faced with a(n) ________ MPP curve and a(n) ________ MR curve.
A. upward sloping; downward sloping B. downward sloping; horizontal C. downward sloping; downward sloping D. downward sloping; upward sloping