Answer the following statements true (T) or false (F)
1) The 12 Federal Reserve Banks are governmentally owned but privately controlled.
2) The U.S. Treasury is the only agency authorized to put money into circulation in the U.S.
economy.
3) Thrifts are known as "banker's banks" because they lend money to commercial banks.
4) As of March 2009, the federal government and the Federal Reserve had spent $170 billion to
keep AIG financially afloat.
5) Subprime mortgage loans are so named because the rates charged are below the prime
interest rate.
1) F
2) F
3) F
4) T
5) F
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The average revenue curve can also be described as the demand curve
a. True b. False Indicate whether the statement is true or false
In the long run, firms will enter a perfectly competitive market if the existing firms are making:
A. a profit. B. zero profits. C. negative profits. D. Any of these could be true.
American productivity growth was highest in the decade of the
A. 1960's. B. 1970's. C. 1980's. D. 1990's.
Data from most industrialized countries show that countries with high investment rates (as a percentage of GDP) tend to be countries
A. with the highest rates of inflation. B. with the most unequal income distribution. C. with high rates of economic growth. D. with the lowest rate of national saving.