A Supreme Court ruling in March 1996 held that
A) state laws to prevent banks from selling insurance can be superseded by federal rulings from banking regulators that allow banks to sell insurance.
B) state laws to prevent banks from selling insurance cannot be superseded by federal rulings from banking regulators that allow banks to sell insurance.
C) state laws to prevent banks from selling insurance can be superseded only if Congress enacts legislation that allow banks to sell insurance.
D) state laws to prevent banks from selling insurance cannot be superseded by federal legislation.
A
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If inflation expectations rise, the short-run Phillips curve shifts
a. left. If inflation remains the same, unemployment falls. b. left. If inflation remains the same, unemployment rises. c. right. If inflation remains the same, unemployment falls. d. right. If inflation remains the same, unemployment rises.
Which of the following is not an example of microfinance?
A. A loan to a bakery for a machine to mix dough. B. A loan to an executive for a retirement home. C. A loan to a small farmer for fertilizer. D. A loan to a restaurant owner for an indoor grill.
Given the production function Q = min{4K, 3L}, what is the average product of capital when 8 units of capital and 16 units of labor are used?
A. 32 B. 2 C. 4 D. 16
Demand-side inflation differs from supply-side inflation in which of the following ways?
A. Demand-side inflation has higher output; supply-side inflation has lower output. B. Demand-side inflation has lower output; supply-side inflation has higher output. C. Demand-side inflation is always followed by stagflation; supply-side inflation is always followed by demand-side inflation. D. Demand-side inflation has a self-correcting mechanism; supply-side inflation does not.