International standards for risk-based capital requirements were introduced under the
A) Federal Reserve Act of 1913.
B) 1988 Basel Accord
C) Community Reinvestment Act of 1977.
D) Federal Deposit Insurance Act of 2008.
B
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In the long run, a monopolistically competitive firm's price equals
A) its average total cost and its marginal cost. B) its average total cost but not its marginal cost. C) its marginal cost but not its average total cost. D) neither marginal cost nor its average total cost.
If expectations are adaptive, how will the economy adjust to a new long-run equilibrium in response to contractionary monetary policy? Support your answer with a graph of the Phillips curve
What will be an ideal response?
Like tariffs, quotas tend to lead to
A) higher prices and reduced imports. B) increased government revenue. C) increased consumer surplus. D) All of the above.
Which of the following actions may be explained by the law of small numbers?
A) People buy lottery tickets. B) People buy air travel insurance. C) People purchase extended or long-term warranties or maintenance contracts for new automobiles and appliances. D) all of the above