One of the reasons communism failed was because:
a. governments ran out of money.
b. workers received the same pay whether or not they worked hard.
c. there was no unemployment.
d. Mao Zedong passed away.
e. technological improvements were impossible in a communist economy.
b
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Decisions by depositors to increase their holdings of ________, or of banks to hold excess reserves will result in a ________ expansion of deposits than the simple model predicts
A) deposits; smaller B) deposits; larger C) currency; smaller D) currency; larger
All of the following are true about a monopolist EXCEPT
A) the demand curve for its product is perfectly elastic. B) it produces a product with no close substitutes. C) its demand curve is the same as the market demand for the industry. D) it is a single seller of a good or service.