Industries with high barriers to entry
a. Pushes profits to normal returns
b. increases the likelihood of firms entering the industry
c. help firms sustain profits
d. increases the number of competitors
c
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Property that is owned by everyone and therefore by no one in particular is referred to as
A) common property. B) social property. C) private property. D) commercial property.
The banking system currently has $200 billion of reserves, none of which are excess. People hold only deposits and no currency, and the reserve requirement is 4 percent. If the Fed raises the reserve requirement to 10 percent and at the same time buys $50 billion worth of bonds, then by how much does the money supply change?
a. It rises by $600 billion. b. It rises by $125 billion. c. It falls by $2,500 billion. d. None of the above is correct.