In which of the following ways, banks began in Italy and England?
a. Monarchs were the first bankers, lending out cash at zero interest to help the poor learn a craft and develop themselves intellectually.
b. Churches were the first bankers, lending out cash to help the poor learn a craft and develop independence.
c. Goldsmiths were the first bankers, and the paper receipts they issued for gold held on deposit became valued as money.
d. Fishermen were the first bankers, and the paper receipts they issued for the fish they stored in the holds of their ships became valued as money.
c
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Why did the classical economists think that large-scale unemployment was not possible in a market economy?
What will be an ideal response?
Refer to the above figure. At demand curve D2, price equals ________ and economic rent equals ________
A) OF; KHG B) OF; FHGO C) OE; EKGO D) OE; KHG