The Constitution of the United States grants the power to "coin money and regulate the value thereof" (which is interpreted to mean the power to engage in monetary policy) to
A. the Federal Reserve.
B. the President.
C. the Treasury Department (through the U.S. Mint).
D. Congress.
Answer: D
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Fractional reserve banking
(a) destroys money. (b) requires banks to engage in 100 percent of total banking activities. (c) allows banks to create money while requiring them only to hold a fraction of money. (d) all of the above.
Managers should concentrate on maximizing shareholder value alone if which of the following conditions are met?
a. complete markets b. no significant asymmetric information c. known recontracting costs d. all of the above e. none of the above
The side of the market that is more inelastic:
A. will bear more of the tax burden. B. will bear less of the tax burden. C. will share an equal amount of the tax burden. D. determines whether to shoulder the majority of the tax burden or pass it on.
A country is categorized as a low-income economy by the World Bank if its per capita income is below:
a. $1,000. b. $100. c. $10,000. d. $50. e. $5,000.