Which of the following institutions is responsible for supervising the banking system of the United States?
a. The Federal Reserve System.
b. The Open Market Committee.
c. The U.S. Treasury.
d. The Federal Deposit Insurance Corporation.
a
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Banks create money when they make loans
a. True b. False Indicate whether the statement is true or false
Comparative advantage is based on
a. capital costs b. labor costs c. opportunity costs d. dollar price e. both labor and capital costs
A tax is regressive if it collects a:
A. larger amount as income rises. B. constant amount as income rises. C. smaller fraction of income as income falls. D. smaller fraction of income as income rises.
In 2008, Timothy Geithner referred to investment banks, money market mutual funds, hedge funds, and other financial firms engaged in similar activities as the
A) shadow banking system. B) commercial banking system. C) securitization market. D) secondary market.