The Glass-Steagall Act was set up to:
A. regulate the derivatives market as a result of the 2008 crisis.
B. establish banking regulations and deposit insurance as a result of the 1930s crisis.
C. regulate financial institutions after the Savings and Loan Crisis the 1980s.
D. give the federal government the sole responsibility in carrying out fiscal policy to regulate the economy.
Answer: B
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Research has shown that nations with highly independent central banks tend to have low
A) inflation. B) interest rates. C) economic growth. D) unemployment.
In a market with 1,000 identical firms, the short-run market supply is the
a. marginal cost curve above average variable cost for a typical firm in the market. b. quantity supplied by the typical firm in the market at each price. c. sum of the prices charged by each of the 1,000 individual firms at each quantity. d. sum of the quantities supplied by each of the 1,000 individual firms at each price.
In 2002, $1 = 1 euro, and in 2006, $1 = 0.6 euro. If the price of a Ferrari was $125,000 in 2006, then:
A) U.S. consumers partially benefited, even though the dollar depreciated. B) U.S. consumers paid the full price because of the depreciated dollar. C) U.S. consumers benefited because of the appreciation of the dollar. D) one can say that the J curve effect is not valid.
What is the output effect?
What will be an ideal response?