The Federal Reserve System is:
A. the agency of the U.S. government that insures commercial bank deposits.
B. a group of twelve commercial banks.
C. the central bank of the United States.
D. the branch of the U.S. Treasury that keeps the U.S. gold reserves.
Answer: C
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In what way can the stock market affect the overall economy?
A) It's an important source of funds for corporations. B) It can affect consumer and business sentiment. C) It is an important factor affecting consumer wealth and thus consumer spending. D) All of the above
On the eve of the Civil War, cotton was the major crop in the Old South
Indicate whether the statement is true or false
A market which firms can enter if they choose and exit without losing money invested is
a. pure monopoly. b. duopoly. c. contestable. d. a market where there are kinked demand curves.
In the markets for goods and services in the circular-flow diagram,
a. households provide firms with savings for investment. b. households provide firms with labor, land, and capital. c. firms provide households with output. d. firms provide households with profit.