Explain how Eurobanks played a role in the Iranian Hostage Crisis in 1979
What will be an ideal response?
When American hostages were taken by Iranians at the American embassy in Tehran, President Carter froze all Iranian assets in U.S. banks as well as in their European branches.
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Prices of industrial products and wages tend to be the most "flexible."
Indicate whether the statement is true or false
Which of the following would be illegal under the Robinson-Patman Act?
A. Ford and General Motors meet to fix the price of cars. B. ExxonMobil and BP Oil elect the same person to their boards of directors. C. General Mills and Kelloggs decide to merge. D. ExxonMobil sells gas at a higher wholesale price to independent gas retailers than to ExxonMobil retailers.
In the United States, higher income households face ________ marginal tax rates, and therefore have ________ incentives to seek deductions of various sorts.
A. lower; fewer B. higher; more C. higher; fewer D. lower; more
In a private closed economy where MPC = 0.8, if consumers reduce their spending by $10 billion and firms cut investments by $5 billion, then equilibrium GDP will decrease by:
A. $75 billion B. $25 billion C. $18.8 billion D. $15 billion