A system in which depository institutions hold reserves that are less than the amount of total deposits is
A. sweep accounts.
B. the Federal Reserve System.
C. the federal funds market.
D. fractional reserve banking.
Answer: D
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Property rights that protect inventions are called
A) trademarks. B) copyrights. C) patents. D) exclusive franchises.
Real GDP per person
a. minus real GDP per person from the previous period equals the growth rate of real GDP per person. b. provides more meaningful comparisons across time and countries than real GDP. c. provides a less useful measure of the standard of living than nominal GDP per person. d. All of the above are correct.
When the government of India lowered tariff barriers and removed the need for approvals for routine industrial expansion, what source of growth did this reform change directly?
A. Growth-compatible institutions B. Human capital C. Technology D. Physical capital
Because resources are scarce relative to wants, the study of economics concerns
A. how money is important to people. B. how money is used to buy what people want. C. how individuals, businesses, and governments make choices. D. None of these are correct.