After the financial crisis of the late 2000s, President Obama and Congress considered adding to the Federal Reserve's functions by making it the nation's primary regulator of
A. systemic risk.
B. credit risk.
C. investment risk.
D. default risk.
Answer: A
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As a result of a decline in interest rates and a rise in household income, the demand curve for housing has shifted to the right, but has retained the same slope. Consequently, the elasticity of demand for housing
A. has declined. B. has increased. C. has remained unchanged. D. cannot be compared.
Tina's marginal utility of her first piece of cake is 15, while Jerry's marginal utility of his first piece of cake is 24 . An economist would conclude that:
a. Tina likes cake more than Jerry likes cake. b. Jerry likes cake more than Tina likes cake. c. Tina likes cake less than Jerry likes cake. d. Jerry likes cake less than Tina likes cake. e. we can't make a comparison to see who values cake more.
What happens to the interest rate when there is a decrease in the government’s budget surplus?
a. The interest rate will decrease. b. The interest rate will increase. c. The interest rate will either increase or decrease. d. The interest rate will remain the same.
Answer the following statements true (T) or false (F)
1. The prices of resources are an important factor in the determination of money income. 2. The demand for a resource is a derived demand based on the demand for the product it helps to produce. 3.The demand for a resource is a derived demand based on the demand for the product it helps to produce. 4 A firm's demand schedule for a resource is the firm's marginal product schedule for the resource. 5. A competitive firm's marginal revenue product of labor will fall as it employs more labor because of the decrease in the price of labor as more of it is employed.