The existence of the Federal Savings and Loan Insurance Corporation (FSLIC) reduced the number of S&L failures in the 1980s and 1990s
Indicate whether the statement is true or false
F
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The Federal Reserve System first began operations in:
A. 1865. B. 1914. C. 1789. D. 1934
When a price floor is set above the equilibrium price, quantity supplied will exceed quantity demanded, resulting in
a. excess demand or shortages. b. excess supply or surpluses. c. equilibrium prices. d. price controls.
If the short-term own price elasticity for food is estimated to be ?0.4, then long-term own price elasticity is expected to be:
A. greater than -0.4 (less elastic). B. ?0.4. C. less than -0.4 (more elastic). D. neither greater than, less than, nor equal to ?0.4.
Recall the Application about the response of bike messengers in Zurich to a change in wages to answer the following question(s).Recall the Application. A study of the messengers in Zurich showed that as the messengers' revenue share increased from 40% to 50%, the bike messengers took more shifts but pedaled slower. If the increase in the revenue is similar to a wage increase, then the increase in the shifts taken is reflective of:
A. the income effect. B. the substitution effect. C. neither the income nor the substitution effect. D. both the income and the substitution effect.