A bank run is
A) a large-scale, panicky withdrawal of deposits from a bank.
B) the transfer of funds from one bank to another.
C) a situation when a bank borrows from the Fed's discount window.
D) a situation in which a bank borrows at the Federal funds rate.
A
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In evaluating the degree of economic efficiency in a market, we can state that the size of the deadweight loss in a market will be smaller
A) the greater the difference between marginal cost and price. B) the smaller the difference between marginal cost and average total cost. C) the smaller the difference between marginal cost and price. D) the greater the difference between marginal cost and average revenue.
In the long run, any perfectly competitive firm that produces will choose a quantity such that
A. price is greater marginal cost. B. long run marginal cost is less than short run marginal cost. C. short run average cost is minimized. D. long run total cost is minimized.