Fractional reserve banking began as a search for
a. a different metallic monetary system.
b. additional sources of gold.
c. different types of borrowers.
d. additional profits.
d
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Which of the following statements is correct?
A) The Fed has difficulty covering its normal expenses, but is reluctant to ask Congress for money. B) The Fed is dependent on the annual appropriations it receives from Congress. C) The Fed's profits are substantial, even when compared to the largest U.S. corporations. D) At one time the Fed made substantial profits, but falling interest rates have greatly reduced them.
What are the assumptions of the model of perfect competition? Explain why each is important for short-run and long-run equilibrium.
What will be an ideal response?
According to the theory of compensating pay differentials, which job should pay the most, all else equal?
If producers must obtain higher prices than before to produce a given level of output, then the following has occurred:
A. A decrease in demand. B. An increase in demand. C. A decrease in supply. D. An increase in supply.