Membership in the Federal Reserve System is
a. limited to national banks.
b. limited to state banks.
c. required of national banks and open to state banks.
d. forbidden to state banks.
c. required of national banks and open to state banks.
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Deflation causes the demand for bonds to ________, the supply of bonds to ________, and bond prices to ________, everything else held constant
A) increase; increase; increase B) increase; decrease; increase C) decrease; increase; increase D) decrease; decrease; increase
The spectacular growth in international banking can be explained by
A) the rapid growth in international trade. B) the 1988 Basel Agreement. C) the collapse of the Bretton Woods system. D) the creation of the World Trade Organization.
It is difficult to formulate the appropriate government policy to guarantee full employment and price level stability
Indicate whether the statement is true or false
The short-run supply curve of a perfect competitor is
A) its average variable cost curve. B) its marginal revenue curve. C) its entire marginal cost curve. D) its marginal cost curve equal to or above the minimum point on its average variable cost curve.