One of the results of the Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994 was:
A. an increase in the number of banks in the U.S.
B. a decrease in the average size of banks.
C. a decrease in commercial banks but an increase in the number of savings and loans and savings banks.
D. a reversal of the branching restrictions of the McFadden Act.
Answer: D
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A newspaper headline asserts: "Rising demand pulls up copper prices." The headline
A) is claiming demand determines price (rather than price determining demand). B) is claiming more copper would be demanded at higher prices. C) is claiming prices will fluctuate indefinitely. D) is guilty of all three errors mentioned above. E) makes perfectly good sense from the standpoint of economic theory.
The creation of a monopoly results in gains to
A) producers at no expense to consumers. B) consumers at no expense to producers. C) producers at the expense of consumers. D) consumers at the expense of producers.
The self-correcting property of the economy means that output gaps are eventually eliminated by:
A. increasing or decreasing potential output. B. government policy. C. decreasing inflation only. D. increasing or decreasing inflation.
The investment schedule is downward sloping and the saving schedule is upward sloping with respect to the interest rate. Suppose the equilibrium real investment per year at the market rate of interest is $1 trillion. How is this represented when real national income per year is on the horizontal axis? How is this incorporated into the consumption-function graph?
What will be an ideal response?