What statement about the savings and loan crisis of the 1980s is true?
a. Many savings and loan depositors lost their entire savings.
b. A combination of deposit insurance and deregulation had encouraged savings and loans to take risks.
c. Depositors panicked and made runs on the savings and loans, which had a waterfall effect.
d. Savings and loans had to pay about $150 billion to cover their financial losses.
b. A combination of deposit insurance and deregulation had encouraged savings and loans to take risks.
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In response to the financial crisis in 2008, the Fed created which of the following policy tools?
A) quantitative easing B) the required reserve ratio C) the discount rate D) the federal funds rate E) open market operations
A single-price monopolist maximizes profits by producing the output at which
A) price equals marginal cost. B) price equals marginal revenue. C) marginal revenue equals marginal cost. D) marginal cost equals average cost.
If someone experiences diminishing marginal utility when eating a restaurant meal, he or she should not eat the restaurant meal
Indicate whether the statement is true or false
The price of a good is the most important determinant of the supply of that good
a. True b. False Indicate whether the statement is true or false