The Gramm-Leach-Bliley Act (GLBA), passed by the U.S. Congress in the year 1999, allows commercial banks to:
a. operate in all foreign countries.
b. open new branches in Cuba.
c. expand their business into other areas of finance, including insurance and selling securities.
d. raise reserve requirements for other financial institutions.
e. eliminate unit banking.
c
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In the years after 1998, the most severe recession occurred during
A) 1998. B) 2000-2001. C) 2008-2009. D) 1999-2001. E) 2005.
Which of the following will most likely occur during the recovery phase of a business cycle?
a. Real GDP rises, and unemployment falls. b. Real GDP declines, and inflation rises. c. Interest rates rise, and the number of business failures rise. d. Inflation rises, and employment falls.
In order to survive, cartels must be able to enforce contracts. However, when a cartel is trading in an illegal commodity:
a. it can use the judicial system to enforce contracts. b. it relies on altruism of members to enforce contracts. c. it is inherently stable because the market is underground. d. violence becomes a means of contract enforcement. e. authorities are effective in preventing the trade.
Assume that coal is a normal good. If the price of coal increases and the quantity sold increases, which of the following is consistent with these observations?
A. The price of oil increased, oil and coal being substitutes B. A wage increase was give to coal miners C. New machinery made coal mining more efficient D. Consumers' incomes fell E. The demand curve is inelastic