From 1789 to 1838, state banks
(a) served as financial intermediations and paid out paper money to borrowers.
(b) were corporations.
(c) engaged in agricultural activities.
(d) established demand deposits against which checks could be written by the borrower.
(a)
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All else constant, a decrease in the per unit price of labor would create an incentive for a firm manager to substitute labor for capital in the firm's production process
Indicate whether the statement is true or false
In a monopolistically competitive market,
a. entry by new firms is impeded by barriers to entry; thus, the number of firms in the market is never ideal. b. entry by new firms is impeded by barriers to entry, but the number of firms in the market is nevertheless always ideal. c. free entry ensures that the number of firms in the market is ideal. d. there may be too few or too many firms in the market, despite free entry.