The Monetary Control Act of 1980:
A. required banks to make home loans.
B. eliminated many forms of competition among financial institutions.
C. created sharper distinctions among various financial institutions.
D. eliminated all interest rate ceilings.
Answer: D
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Suppose there are only two goods: bread and wine. In Mexico, the absolute price of wine is 30 pesos per bottle. If the relative price of wine in terms of bread is 5 loaves per bottle, then the absolute price of bread is
a. 5 pesos per loaf. b. 6 pesos per loaf. c. 25 pesos per loaf. d. 150 pesos per loaf.
The components of M2 that are not also in M1:
A. pay lower rates of interest than do the components of M1. B. sum to an amount that is smaller than the sum of the components of M1. C. are usable for making payments, but at a greater cost or inconvenience than currency or checks. D. are not usable for making payments.
The exchange rate can be very volatile, yet the quantity of dollars traded might not change much because
A) the Fed is constantly intervening by buying and selling dollars. B) there is only limited quantity of dollars in the foreign exchange market. C) supply of dollars and the demand for dollars often change in opposite directions. D) supply of dollars and the demand for dollars often change in the same directions. E) both the demand curve for dollars and the supply curve of dollars are horizontal.
A ton of coal purchased by your local utility to burn to make electricity would be best described as
A) an intermediate good. B) a financial asset. C) a used good. D) a final product.