Concentration of industries can lead to external economies for all of the following reasons EXCEPT
A) concentrated industries will not be competitive.
B) concentrated industries will attract a network of input suppliers.
C) concentrated industries will attract a deep pool of skilled labor.
D) concentrated industries will experience knowledge spillovers.
A
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An optimizing economic agent will use the ________ rate while calculating the economic cost of a loan
A) exchange B) nominal interest C) real interest D) tax
Prior to the establishment of the Federal Reserve System (1913), reserve requirements
(a) limited the banks' ability to lend. (b) did not restrict the amount of paper-money issued by banks. (c) freed banks to create as much money as the market could bear without regard for risk and withdrawal rates. (d) forced banks to place deposits in the national bank.