On November 20, 1985, the Bank of New York needed to use the lender of last resort function due to:
A. a rumor that the bank was about to be taken over by FDIC due to insolvency.
B. a computer error caused the bank's records to wipe out the balances of all of its customers.
C. a run on the bank started by a rumor that the president of the bank embezzled tens of millions of dollars from the bank.
D. a computer error that made it impossible for the bank to keep track of its Treasury bond trades.
Answer: D
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Refer to the below graph of the market for low-skilled labor. Sd is the supply of domestic resident workers, and St is the total supply of labor including undocumented workers. If there are illegal immigrants in the market, how many illegal immigrants will be employed?
A. 15M
B. 120M
C. 135M
D. 22M
How does the Washington Consensus differ from the Santiago Consensus?
What will be an ideal response?
In a two-period model with production, a temporary increase in domestic government spending
A) increases domestic output and increases the current account surplus. B) increases domestic output and decreases the current account surplus. C) decreases domestic output and increases the current account surplus. D) decreases domestic output and decreases the current account surplus.
When you pay for some purchase with a check, cash must be transferred to another account to pay for the check
a. True b. False Indicate whether the statement is true or false