Which of the following are true statements about IBFs?
A) IBFs are subject to reserve requirements.
B) IBFs are allowed to receive deposits from, and make loans to, nonresidents of the U.S. or other IBFs.
C) IBFs are subject to interest rate regulations.
D) All of the above.
B
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The field of political economy applies the methods of
a. psychology to study how the economy works. b. political science to study how the economy works c. economics to study how government works. d. psychology to study how government works.
If 10% is the annual rate, considering compounding, the monthly rate is:
A. 0.80% B. 0.0833% C. 0.833% D. 1.0833%
Demand is said to be __________ when the quantity demanded changes at the same proportion as the price.
a. elastic b. unit elastic c. inelastic d. independent
The essence of the trade-off between equality and efficiency is that
A. taxes and transfers reduce incentives to earn income, thus reducing GNP. B. people are ideologically opposed to socialistic income redistribution. C. redistribution violates the “work ethic.” D. people are prejudiced against blacks and women.