Which of the Following Accurately Presents a Major Difference Between

question 21

Multiple Choice

Which of the following accurately presents a major difference between Internet banks and traditional banks?

• A)The government does not regulate Internet banks.
• B)Traditional banks are prohibited from having ATMs.
• C)Internet banks have lower overhead costs.
• D)Traditional banks offer less personal care and attention to customers.

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Definitions:

Quantity Demanded

The total amount of a good or service that consumers are willing to buy at a given price level in a given period.

Labor

The human effort, both physical and mental, used to produce goods and services.

Equilibrium Wage

The wage rate at which the quantity of labor employers are willing to hire equals the quantity workers are willing to supply, with no excess demand or supply.

Quantity Of Labor

The total number of labor hours provided by workers for the production of goods or services.