In response to the destructive bank panics of the Great Depression, Congress established ________ in 1934 to reduce the likelihood of asset deflation and bank failures
A) the Federal Reserve system
B) banking reserve requirements
C) fractional reserve banking
D) the Federal Deposit Insurance Corporation
D
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If the quantity sold of two-liter Coke bottles increases by 10% when price falls by 2%, what is the total change in revenue?
a. Revenue increases by 12% b. Revenue increases by 8% c. Revenue falls by 8% d. Revenue falls by 12%
If the Fed were to allow unemployment to remain at a higher level than NAIRU:
A. It would lead to deflation. B. the dual mandate would be violated. C. they would fail to maintain full employment. D. All of these statements are true.
Congestion taxes tend to cause an increase in traffic volume during rush hours.
Answer the following statement true (T) or false (F)
If a product is a necessity and has no substitutes at all, demand for the product is most likely to be:
A. very inelastic. B. inelastic. C. unit elastic. D. elastic.