Which of the following is NOT a function of the Federal Reserve System?

A) providing for check collection and clearing
B) holding deposits of member banks
C) supervising member banks
D) making loans to college students


Ans: D) making loans to college students

Economics

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If two goods are complements, then their

A) indifference curves are positively sloped straight lines. B) indifference curves are negatively sloped straight lines. C) indifference curves are L-shaped. D) marginal rate of substitution is infinity.

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Mortgages issued to individuals with low incomes and poor credit history are called

A) credit mortgages. B) teaser mortgages. C) subprime mortgages. D) income mortgages.

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The natural rate of unemployment never changes

a. True b. False

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A _________ tax is one where those with higher incomes pay a higher share of taxes out of their income than those with lower incomes.

a. flat b. progressive c. proportional d. regressive

Economics