One purpose of interest-rate ceilings was to:
a. establish a ceiling on bank profits
b. establish a floor on bank profits.
c. encourage competition in other areas.
d. eliminate the need for the FDIC.
e. reduce the chance of bank failures.
e
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The debt burden in the United States was highest during
A) the 1980s. B) the 1960s. C) World War II. D) World War I.
A horizontal merger
a. combines similar firms that serve separate markets. b. combines firms that produce similar products. c. enables a company to control each stage of the production process: from raw materials to the final marketing of the product. d. enables similar firms to form a cartel.
The real value of any variable is its nominal value:
A. adjusted for inflation. B. holding the base constant. C. adjusting for income. D. holding the basket constant.
When inflation has not been very persistent, as was the case in the United States before the mid-1960s, we can expect that
A) the expected price level for a given year will equal the previous year's actual price level. B) the current inflation rate will not depend heavily on past years' inflation rates. C) lower unemployment rates will be associated with higher inflation rates. D) all of the above E) none of the above