The Federal Deposit Insurance Corporation
a. has eliminated bank failures
b. insures all demand deposits without limit
c. insures a person's demand deposits in any bank up to $100,000
d. insures a person's demand deposits in any bank up to $10,000
e. insures a person's savings and loan deposits in any S&L institution up to $100,000
C
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In the country of Wilkes, taxes are $5 million and benefits are $4 million. Income from labor is $25 million and income from capital is $15 million. What is market income?
A) $20 million B) $39 million C) $40 million D) $9 million
All of the following are true about a monopolist EXCEPT
A) the demand curve for its product is perfectly elastic. B) it produces a product with no close substitutes. C) its demand curve is the same as the market demand for the industry. D) it is a single seller of a good or service.