Resources are
A. unlimited.
B. used to produce goods and services to satisfy people's wants.
C. what people would buy if their income was unlimited.
D. able to be replicated in large quantities.
Answer: B
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In Figure 6-3(a), demand is
A. perfectly elastic. B. perfectly inelastic. C. unit elastic. D. fixed at one particular quantity.
What is one significant characteristic of fractional reserve banking?
A. Banks hold a fraction of their loans in reserve B. Banks use deposit insurance for loans to customers C. Bank loans will be equal to the amount of gold on deposit D. Banks can create money through lending their reserves
In 2009, the interest rate fell below 1 percent in the United States. As a result, there was a
A) leftward shift in the supply of money curve. B) movement upward along the money supply curve. C) movement downward along the demand for money curve. D) movement upward along the demand for money curve. E) rightward shift in the demand for money curve.
What is one of the potential hazards of the government’s move to insure bank deposits?
a. People are less likely to apply for loans. b. Depositors are more likely to engage in bank runs. c. Banks are willing to take greater risks. d. The money supply may be less stable.