Market barriers imposed on national banks:
a. included both restrictions on mortgages and high capital requirements.
b. allowed rural banks to charge higher rates.
c. allowed national banks to price discriminate.
d. All of the above are correct.
e. Only a and b are correct.
e. Only a and b are correct.
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Total Reserves minus vault cash equals
A) bank deposits with the Fed. B) excess reserves. C) required reserves. D) currency in circulation.
During 1980 through 2010,
a. the per capita income of high-income industrial countries declined. b. the fastest growing economies in the world were LDCs. c. almost all LDCs grew more rapidly than the high-income industrial economies. d. most of the countries with rapid growth rates during the last two decades were located in South America.
The new classical view argues that an increase in government debt will cause people to
a. increase their current saving so they will be better able to pay the higher future taxes implied by the increase in the debt. b. increase their current consumption since the substitution of debt for taxes makes them wealthier. c. shift their savings to foreign banks where they will be more secure. d. do all of the above.
Evidence from experiments in which real people play the ultimatum game supports the idea that people
a. are rational wealth-maximizers. b. tend to be driven by fairness, without regard for their own self-interest. c. are driven by both fairness and self-interest. d. have trouble calculating their own levels of wealth.