The collapse of the Bank of Credit and Commerce International, BCCI, showed the difficulty of international banking regulation. BCCI operated in more than ________ countries and was supervised by the small country of ________
A) 70, Luxembourg
B) 100, Monaco
C) 70, Monaco
D) 100, Luxembourg
A
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The price in a contestable market is similar to that in a perfectly competitive market because
A) there are barriers to entry. B) there are no barriers to entry. C) there are many firms in the market. D) the firm can earn an economic profit in the long run.
An agreement to exchange dollar bank deposits for euro bank deposits in one month is a
A) spot transaction. B) future transaction. C) forward transaction. D) deposit transaction.
Increased government spending on unemployment insurance during a recession is an example of:
A. expansionary fiscal policy. B. contractionary fiscal policy. C. discretionary fiscal policy. D. an automatic stabilizer.
If the nominal interest rate is 10% and prices generally increase 5%, the real rate of interest is
A. 5%. B. 10%. C. 15%. D. 20%.