Holding the money deposits of businesses and households and making loans to the public are the basic functions of:
A. district banks of the Federal Reserve System.
B. the Federal Deposit Insurance Corporation and the Federal Savings and Loan Insurance Corporation.
C. the Open Market Committee and the Board of Governors.
D. commercial banks and thrift institutions.
Answer: D
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Average total costs are total costs divided by
A) total output. B) total fixed costs. C) total variable costs. D) the total number of workers employed.
The amount of checkable deposits that banks are required by regulation to hold are the
A) excess reserves. B) required reserves. C) vault cash. D) total reserves.
The demand curve faced by a monopolist is the same as the marginal revenue curve
a. True b. False Indicate whether the statement is true or false
In a perfectly competitive situation, the profit-maximizing hiring situation for all inputs being used is where
A. the MRP of each input is greater than the price of each input. B. the MRP of each input is less than the price of each input. C. the MRP of each input is equal to the price of each input. D. There is no relationship between MRP and the prices of the inputs.