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Author Question: Money in the United States today includes _______. A. currency and deposits at both banks and the ... (Read 65 times)

Capo

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on: Jun 29, 2018
Money in the United States today includes _______.
 
  A. currency and deposits at both banks and the Fed
  B. the currency in people's wallets, stores' tills, and the bank deposits that people and businesses own
  C. currency in ATMs and people's bank deposits
  D. the banks' reserves and bank deposits owned by individuals and businesses

Question 2

How do we know when a market is contestable?
 
  What will be an ideal response?


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bulacsom

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Reply #1 on: Jun 29, 2018
Answer to Question 1

B Only currency outside of banks is part of money.

Answer to Question 2

A market is contestable when barriers to entry are low. Economic profits encourage new entrants into a market. If they can succeed, then the market is contestable and the market power of the incumbent firm will be diminished.


Capo

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Reply 2 on: Jun 29, 2018
Thanks for the timely response, appreciate it

bblaney

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Reply 3 on: Yesterday
Excellent

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