Answer the following statements true (T) or false (F)
1. Share draft accounts at credit unions are a type of transaction account.
2. Reserve requirements on non personal time deposits cannot exceed 9 percent.
3. It is possible for the economy to still experience an increase in the money supply when the Fed increases the reserve requirement.
4. Interest rate ceilings were phased out by the Depository Institutions Deregulation and Monetary Control Act of 1980.
5. The Federal Reserve today no longer has control over stock market margins requirements.
1. TRUE
2. TRUE
3. TRUE
4. TRUE
5. FALSE
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Deadweight loss from the imposition of a price floor increases as consumer demand becomes more price elastic.
Answer the following statement true (T) or false (F)
If the minimum wage law sets a price floor above the equilibrium wage in the market for unskilled labor, then the
A) minimum wage will create a surplus of unskilled labor. B) minimum wage will create a shortage of unskilled labor. C) minimum wage will not impact the unskilled labor market. D) unskilled labor market will change, but we cannot be certain how.
Based on this figure, if the krone exchange rate is fixed at $0.15 dollars per krone, then the krone is:
A. devalued. B. overvalued. C. revalued. D. undervalued.
If the production of ukuleles creates a negative externality that is NOT corrected for by the government, the equilibrium quantity of ukuleles is
A) higher than optimal. B) lower than optimal. C) efficient. D) at a optimal level.