Interstate banking
A. used to be legal but is now illegal.
B. used to be illegal but is now legal.
C. is illegal today and has always been illegal.
D. has always been legal.
B. used to be illegal but is now legal.
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The political business cycle theory predicts that
A) the Fed acts to promote the interests of the general public. B) the Fed acts to stimulate economic activity before an election. C) the President's appointments to the Board of Governors will usually be politicians. D) political factors over which the Fed has no control are most important in explaining the business cycle.
Suppose the utility function for a firm manager is U = ? + bQ, where Q is output, ? is profit, and b is a positive constant. How would the firm's output compare with what it would be if the manager's objective was to maximize profit?
A. It would be less than the profit-maximizing output. B. It would be greater than the profit-maximizing output. C. It would be the same as the profit-maximizing output. D. None of the statements is correct.
Which of the following is a monetary policy tool that is meant to reduce interest rates and stimulate the economy?
a) Easy money b) Tight money c) Restrictive monetary policy d) Contractionary monetary policy
According to the purchasing-power parity theory, differences in domestic inflation rates are a major cause of exchange rate movements.
Answer the following statement true (T) or false (F)