Which of the following is not a resource?
a. Land. b. Labor.
c. Money. d. Capital.
c
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Prior to the establishment of the Federal Reserve System (1913), reserve requirements
(a) limited the banks' ability to lend. (b) did not restrict the amount of paper-money issued by banks. (c) freed banks to create as much money as the market could bear without regard for risk and withdrawal rates. (d) forced banks to place deposits in the national bank.
Will a binding price floor result in a shortage or a surplus in the market?
Prior to the Civil War most state banks issued their own banknotes. This resulted in all of the following problems except:
A. their values decreased as the holder moved further from the bank. B. they were worthless if the bank failed. C. they were usually redeemable in gold. D. they were not efficient as a means of payment if the holder was far from the bank.
Under the Food, Conservation, and Energy Act of 2008, if the target price for a bushel of corn is $2.63 and the price of corn falls to $2.25, then a farmer will receive:
A. A marketing loan B. A transition payment C. An acreage allotment D. A countercyclical payment