The legislation that separated investment banking from commercial banking until its repeal in 1999 is known as the
A) National Bank Act of 1863.
B) Federal Reserve Act of 1913.
C) Glass-Steagall Act.
D) McFadden Act.
C
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If the Fed buys government securities, other things the same, the exchange rate ________ and U.S. exports ________
A) falls; decrease B) rises; increase C) falls; increase D) rises; decrease E) falls; do not change because they are autonomous expenditure
If the percentage change in quantity is equal to the percentage in price, demand is said to be unit elastic
a. True b. False Indicate whether the statement is true or false
The wage measured in dollars of the year in question is called real wages
Indicate whether the statement is true or false
Real gross domestic product (RGDP) differs from gross domestic product (GDP) in that RGDP ______.
a. is adjusted for inflation b. reflects current unemployment figures c. reflects a stable price level d. is always smaller than GDP