You are a hotel manager and you are considering four projects that yield different payoffs, depending upon whether there is an economic boom or a recession. The potential payoffs and corresponding payoffs are summarized in the following table.  ProjectBoom (50%)Recession (50%)A$20-$10B-$10$20C$30-$30D$50$50A risk-averse manager will prefer project:

What is the primary reason for the differences between the U.S. banking system and those in other major industrial countries?

A) Economies of scale are greater in banking in the United States than in banking in other countries. B) legislation that led to the development of state and national banks C) the Federal Reserve System D) the National Bank

Which of the following statements is correct?

What will be an ideal response?