The first bank chartered in the United States was the
a. First National Bank of the United States
b. First National Bank of Boston
c. First National Bank of New York
d. Bank of North America
e. Federal Reserve
D
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The absolute price of a commodity is the amount of
a. other goods that must be sacrificed in order to purchase one unit of the commodity. b. resources required to produce one unit of the commodity. c. currency needed to purchase one unit of the commodity. d. time and effort used to develop a market for the buying and selling of the commodity.
________ in the currency drain ratio and ________ in the desired reserve ratio ________ the money multiplier
A) An increase; a decrease; increase B) A decrease; a decrease; increase C) A decrease; an increase; decrease D) An increase; an increase; increase E) An increase; a decrease; decrease
The main goals of monetary policy include all of the following EXCEPT
A) attaining the maximum sustainable growth of potential GDP. B) keeping the unemployment rate close to the natural unemployment rate. C) keeping the long term nominal interest rate equal to the real interest rate plus the inflation rate. D) keeping the inflation rate low. E) keeping the long-term interest rate at a moderate level.
Happy Campers wants to prevent Campers R Us from entering the camping market. If Happy Campers expands its capacity, the expansion can lead to all of the following except which one?
A) lower Campers R Us' profit from entering the market B) increase Happy Campers' marginal cost C) increase Happy Campers' profit-maximizing quantity D) lower Happy Campers' profit-maximizing price