In an effort to stabilize the banking sector and keep banks lending, from October 2008 to September 2009, the Fed ________.
A. raised the amount of interest paid on reserves held at Fed banks
B. raised reserve requirements
C. declared a series of bank holidays to give banks a chance to recover from excessive withdrawals from customer accounts
D. lowered the federal funds target rate
Answer: D
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In the figure above, the Lorenz curve that shows the richest 20 percent of households receiving 80 percent of all income is
A) curve A. B) curve B. C) curve C. D) curve D.
The vicious circle of poverty is the trap in which the LDC is too poor to save and therefore it cannot invest and remains poor
a. True b. False Indicate whether the statement is true or false
The real purchasing power of the average worker's yearly earnings in the United States in 2016 was ________ as in 1960.
A. twice as large B. about the same C. five times as large D. about half as much
In a command economy like the old Soviet Union, one is able to improve one's lot and get ahead in society largely through:
A. Entrepreneurship and risk-taking B. Innovation and profits C. Participating in the political hierarchy D. Getting high prices for one's products and resources