The Federal Reserve System consists of 12 ___________ and 7 ______________.
A. regional banks; Board of Governor's members
B. Board of Governor's members; regional banks
C. regional banks; member banks
D. member banks; regional banks
A. regional banks; Board of Governor's members
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Depository institution create liquidity when they
A) buy assets that are liquid. B) borrow short and lend long. C) have liabilities that are illiquid. D) borrow long and lend short.
Which of the following is not evidence of the lower standard of living among less- developed countries?
a. high per capita income b. high death rates c. high infant mortality rate d. low life expectancy e. high birth rate
Direct controls work if
A. there is vigilance and enthusiasm in enforcement by the regulatory agency. B. the court system prosecutes cases no matter how long it takes. C. there are affordable penalties imposed by the legal system. D. each polluter pays the same charge for pollution reduction.
Which of the following is not a function of money?
a. Medium of exchange. b. Standard of deferred payment. c. Unit of account. d. Store of value. e. All of the above are functions of money.