Which of the following is true of unit banking?
a. It is the dominant form of banking in the United Sates.
b. It occurs when national banks open interstate branch offices.
c. It implies that every financial institution should maintain its account with the Federal Reserve.
d. It occurs when a bank is not allowed to operate in more than one location.
e. It refers to the monopolization of the banking industry.
d
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In the above figure, suppose the economy is initially on the demand for money curve MD1. What is the effect of an increase in the use of credit cards?
A) The demand for money curve would shift rightward to MD2. B) The demand for money curve would shift leftward to MD0. C) There would be a movement upward along the demand for money curve MD1. D) There would be a movement downward along the demand for money curve MD1.
If the utility function (U) between food (F) and clothing (C) can be represented as U = , the marginal utility of food
A) is not positive. B) does not diminish as food increases. C) is not affected by the amount clothing. D) increases as one obtains more clothing.
A business incurs the following costs per unit: Labor $5/unit; Materials $3/unit and rent $5000/month. If the firm produces 1000 units a month, the total fixed costs equals
a. $5,000 b. $8,000 c. $13,000 d. $3,000
Referring to a production possibilities curve and the goods being compared, depict the economic event. The economy moves from full employment to a serious recession (capital goods vs. consumer goods).
A. A movement from a point inside the curve to a point on the curve B. A movement from a point on the curve to a point inside the curve C. A shift in the entire curve to the right (outward) D. A shift in the entire curve to the left (inward) E. A movement along the curve