An important routine function of the Federal Reserve Bank is to:
A. help large commercial banks develop correspondent relationships with smaller commercial banks.
B. advise commercial banks as to the most profitable ways of reinvesting profits.
C. provide facilities by which commercial banks and thrift institutions may collect checks.
D. supervise the liquidation of the assets of bankrupt state banks.
Answer: C
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In the figure above, Jill is producing at point A. Jill's opportunity cost producing one pair of pants is
A) 2 shirts per pair of pants. B) 3 shirts per pair of pants. C) 3/5 of a shirt per pair of pants. D) 5/3 of a shirt per pair of pants.
Federal subsidies to farmers can have the effect of creating a surplus in the market for certain crops
Indicate whether the statement is true or false
In the neoclassical growth theory, differences in per capita income are determined by differences in the
A) saving rate. B) population growth rate. C) depreciation rate. D) all of the above.
Which of the following is an example of a common pool resource?
A) a lighthouse B) burritos C) a high school football game D) redwood forests