The Second Bank of the United States
A) was disbanded in 1811 when its charter was not renewed.
B) had its charter renewal vetoed in 1832.
C) is considered to be the primary cause of the bank panic of 1907.
D) None of the above.
B
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The delivery of first-class mail by the U.S. Postal Service is an example of
A) a monopoly. B) an oligopoly because a few other firms provide delivery of letters and packages. C) perfect competition because consumers have access to other methods of written communication; for example, email and text messaging. D) monopolistic competition, because mail delivery is a differentiated product provided by many firms.
Imagine that the economy is at a point on the DD-AA schedule that is above both AA and DD and where both the output and asset markets are out of equilibrium. Explain what will happen next?
What will be an ideal response?