Which of the following laws increased competition among financial institutions and gave the Fed greater control over nonmember banks?
a. The Federal Reserve Act.
b. The Equal Credit Opportunity Act.
c. The Monetary Control Act.
d. The Thrift Bailout Bill.
c
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Creative destruction means that
A) economic growth can only be sustained if capital depreciates rapidly. B) firms develop new products that replace old products in the economy, thereby encouraging economic growth. C) research and development should only be financed if research and development is incremental (a result of making small changes to existing products). D) knowledge capital can be created through a system of government subsidies for education and research and development.
Refer to Figure 11-13. The lines shown in the diagram are isocost lines. Which of the following shows an increase in the firm's total cost while the price of labor and capital remain unchanged?
A) the movement from CE to AF B) the movement from BD to AF C) the movement from BD to CE D) the movement from CE to BF