Which of the following statements is correct?
I. The Fed can periodically and without warning examine member commercial banks to ensure that they are conforming to current banking standards.
II. The Fed helps the government collect certain tax revenues and aids in the purchase and sale of government securities.
A) I only B) II only C) Both I and II D) Neither I nor II
C
You might also like to view...
Which of the following is NOT a device to reduce transaction costs?
A) shopping centers B) auto dealers located close together C) government prohibitions on advertising D) banks that direct funds from savers to borrowers
Which of the following is the best example of a variable cost?
a. monthly wage payments for hired labor b. annual property tax payments for a building c. monthly rent payments for a warehouse d. annual insurance payments for a warehouse
Assuming that full employment of labor is considered 5 percent unemployment, in 1998 and 1999, the United States economy operated ____________ the production possibilities frontier.
Fill in the blank(s) with the appropriate word(s).
Perfectly competitive markets are characterized by each of the following except
A. substantial barriers to entry and exit. B. many small potential buyers. C. many small potential sellers. D. identical products.