The Federal Deposit Insurance Corporation (FDIC) insures the total value of all deposits in banks that are members of the Fed
a. True
b. False
Indicate whether the statement is true or false
False
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The money supply, as measured by M1, consists almost entirely of currency
Indicate whether the statement is true or false
Refer to the figure above. The quota shown in the diagram equals
A) 200 units. B) 500 units. C) 1000 units. D) 1200 units.
Tax smoothing is intended to ________
A) reduce income inequality B) avoid fluctuations in the ratio of the government deficit to GDP C) shift the burden from current taxpayers onto future generations D) keep the tax wedge from shrinking
Asymmetric information in financial markets exists when: a. borrowers reveal their financial details to banks before borrowing funds
b. borrowers know more about their ability to repay loans than lenders do. c. lenders know more about borrowers than borrowers know about themselves. d. borrowers pay off a loan before it is due. e. borrowers and lenders have equal information about borrower creditworthiness.