Did the Bank of England intervene and perform its Lender of Last Resort responsibility to end the panic in August 2007?
A) yes
B) no
C) yes, only after a bank run and under pressure from the British financial industry
D) no, since such support would present a moral hazard problem
E) no, despite intense pressure from the chancellor of the exchequer
C
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Studies and experience suggest that labor and capital are highly complementary inputs to the production of pipe organs
Indicate whether the statement is true or false
The market for milk is in equilibrium. Recent health reports indicate that calcium is absorbed better in natural forms such as milk, and at the same time, the cost of milking equipment rises. Carefully analyze the probable effects on the market
What will be an ideal response?
Tax loopholes increase the progressivity of the federal income tax
a. True b. False Indicate whether the statement is true or false
Which of the following statements is incorrect for an open economy?
a. A country can have a trade deficit, trade surplus, or balanced trade. b. A country that has a trade deficit has positive net capital outflow. c. Net exports must equal net capital outflow. d. National saving equals domestic investment plus net capital outflow.