The FDIC was created because
A. banks failed to create money the way the Fed wanted them to.
B. the Fed kept the required reserve ratio too low.
C. there were so many bank failures in the 1930s.
D. people worried about bank failures after World War I, even though very few banks actually failed.
Answer: C
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The large quantity of currency held per person in the United States reflects
A) The high level of GDP per person in the United States. B) The income-expenditure identity. C) The importance of the underground economy. D) The distrust of banks in the United States.
The Acme Oil Company is a vertically integrated firm. It explores for and extracts crude oil. It also refines the crude oil into gasoline and other products, and sells these products to consumers
The internal price that Acme Oil uses when the crude oil that it extracts is "sold" to one of its refineries is called: A) the shadow price. B) the transfer price. C) the market price. D) the non-market price. E) none of the above
Along the portion of the consumption function that lies above the 45-degree line, saving is
A) positive. B) negative. C) equal to zero. D) equal to consumption.
A more stable political climate could benefit productivity just like a technological improvement could
Indicate whether the statement is true or false