With the creation of the Federal Deposit Insurance Corporation, member banks of the Federal Reserve System ________ to purchase FDIC insurance for their depositors, while non-member commercial banks ________ to buy deposit insurance
A) could choose; were required
B) could choose; were given the option
C) were required, could choose
D) were required; were required
C
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Normally an increase in the supply of a good will cause
A. a shift of consumer preferences in favor of that good. B. consumers to use more of that good and less of others. C. a shift of consumer preferences away from that good. D. consumers to use less of that good and more of others.
If a market is shared equally by 100 firms, the Herfindahl-Hirschman Index is
A) 1/100. B) 1/50. C) 50. D) 100.
Losses are always minimized when _________ equals _________.
Fill in the blank(s) with the appropriate word(s).
Marginal benefit is the benefit that a person receives from consuming
A) a good or service until the person has grown tired of it. B) only goods and services that are free. C) one more unit of a good or service. D) all of the possible units of a good or service that can be consumed. E) one more unit of a good and is equal to the cost of producing the unit of the good.