Refer to the information provided in Figure 1.7 below to answer the question(s) that follow.
Figure 1.7Refer to Figure 1.7. At Point A the slope of the line is 0.67, so at Point C the slope would be
A. greater than 0.67.
B. equal to 0.67.
C. less than 0.67.
D. indeterminate from this information.
Answer: B
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When the Fed acts as a "lender of last resort," like it did in the financial crisis of 2007-2008, it is performing its role of
A. providing for check clearing and collection. B. being the bankers' bank. C. controlling the money supply. D. setting the reserve requirements.
A banking system that provides people immediate access to their deposits, but that allows banks to hold only a portion of those deposits on reserve, is known as
a. an excess reserve system b. a fractional reserve system c. the Fed d. the FDIC e. an asset-based system
If the government undertakes expansionary fiscal policy, it might:
A. decrease government spending. B. increase corporate income taxes. C. increase income taxes. D. decrease income taxes.
Why do credit card companies typically require small minimum payment amounts on their customers' monthly credit card statements?
A. Credit card companies are concerned that their customers will be put in financial distress if required to make higher payments. B. Credit card companies want to promote faster repayment, and customers will be encouraged to pay more each month if they're able to pay well beyond the minimum. C. Credit card companies want to increase profits by promoting slower repayment, and actual customer payments will be anchored by the smaller payment requirements. D. Credit card companies actually charge the highest minimum payment they are allowed by law to charge.