With ATMs, it is possible to retrieve cash from the bank at any time. One hundred years ago, one could only get cash from the bank during business hours, say, 9 am to 3 pm. The present availability of 24-hour service has arisen because:
A. the cost of providing 24-hour service is much lower today.
B. government forced banks to become more convenient.
C. flexibility was not valued 100 years ago.
D. it was impossible to provide 24-hour service 100 years ago.
Answer: A
You might also like to view...
The longer the time that has elapsed since the price of a good changed, the
A) more elastic the demand for that good. B) steeper the demand curve. C) less elastic the demand for that good. D) smaller the amount of that good bought. E) fewer substitutes available for the good.
If firms in a duopoly can successfully collude
A) each firm can earn an economic profit. B) the industry, that is, both firms taken together, can earn the maximum economic profit. C) the firms achieve a cooperative equilibrium. D) All of the above answers are true.