An important routine function of the Federal Reserve Bank is to:
A. supervise the liquidation of the assets of bankrupt state banks.
B. help large commercial banks develop correspondent relationships with smaller commercial
banks.
C. advise commercial banks as to the most profitable ways of reinvesting profits.
D. provide facilities by which commercial banks and thrift institutions may collect checks.
D. provide facilities by which commercial banks and thrift institutions may collect checks.
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Which is the main motivation for entrepreneurs to take on the risks of producing?
A. Increasing costs of production B. Fun C. Profit D. Decreasing costs of production
The industry concentration ratio measures the
A) value of the assets owned by the largest corporations in the market. B) percentage of industry sales accounted for by the top four or eight firms. C) difference between price and marginal cost for the largest firms in the industry. D) degree of product differentiation in the market.
In the actual economy, households
a. spend all of their income. b. divide their income among spending, taxes, and saving. c. buy all goods and services produced in the economy. d. Both (a) and (c) are correct.
When in France you notice that prices are posted in euros, this best illustrates money's function as
a. a store of value. b. a medium of exchange. c. a unit of account. d. a method of barter.