Traditionally, the Federal Reserve can give emergency loans only to
A. manufacturing firms.
B. securities firms.
C. commercial banks.
D. investment banks.
Answer: C
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When money is used to express the value of goods and services, it is functioning as a
A) medium of exchange. B) store of value. C) store of purchasing power. D) unit of account.
If investment has a high sensitivity to the interest rate, the IS curve is rather __________, so that monetary policy has a __________ effect on GDP
A) flat; strong B) flat; weak C) steep; strong D) steep; weak
One way the "lemons problem" in the used-car market can be mitigated is by
a. raising the price of used cars. b. hiring auto experts to sell used cars. c. requiring sellers to guarantee trouble-free cars. d. allowing owners to trade in their own cars when they purchase a used car.
The efficiency-wage theory of worker health is more relevant for less developed countries than rich countries
a. True b. False Indicate whether the statement is true or false