Under the Depository Institutions Deregulation and Monetary Control Act, all depository institutions are now subject to the Fed's _____; at the same time all depository institutions are now legally authorized to issue ______.
Fill in the blank(s) with the appropriate word(s).
reserve requirements; checking accounts
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Marginal factor cost is
A) the change in the value of output from using an additional unit of the factor. B) the cost of an additional unit of output. C) the total value of factor cost divided by the one cost that is being held constant. D) the cost of using an additional unit of an input.
The Lorenz curve demonstrates:
A. inequality visually; the more linear the curve, the less inequality exists. B. inequality visually; the more linear the curve, the more inequality exists. C. average income levels per capita; the more linear the curve, the less inequality exists. D. average income levels per quintile; the more linear the curve, the more inequality exists.
A free rider is one who enjoys the benefits of a public good without paying for it
a. True b. False Indicate whether the statement is true or false
Related to the Economics in Practice on p. 572: According to the study cited in the Economics in Practice, wages tend to
A. change in lock step with changes in the price level. B. remain rigid in both and upward and downward direction. C. remain unchanged for about a year, which tells us that average wages change must less than average prices. D. behave in a way that contradicts the theory of sticky wages.