Which statement about the structure of the Federal Reserve System is true?
a. It is made up of 12 separate banks spread around the country.
b. It is a single bank located in New York.
c. It is made up of 12 linked banks located in the eastern states.
d. It is a single bank located in Washington D.C.
a. It is made up of 12 separate banks spread around the country.
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A key assumption of most economic analysis is that people are altruistic, meaning that they act in their own self-interest
Indicate whether the statement is true or false
When the price level_______, the inflation rate ______
A. rises rapidly; increases B. rises rapidly; is high C. falls; is zero D. rises slowly; falls
M1 equals currency plus demand deposits plus
a. nothing else. b. other checkable deposits. c. traveler's checks plus other checkable deposits. d. traveler's checks plus other checkable deposits plus savings deposits.
In 2007, which of the following U.S. firms showed the first indication of significant problems in the financial sector?
A. AIG B. Bear Stearns C. J.P. Morgan Chase D. Lehman Brothers