Income inequality is greater within nations than among nations
a. True
b. False
Indicate whether the statement is true or false
False
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In response to the destructive bank panics of the Great Depression, future bank panics are designed to be prevented by
A) establishing a fractional reserve system of banking. B) increasing the required reserve ratio to 100%. C) the establishment of the Federal Deposit Insurance Corporation. D) the Federal Reserve System conducting open market operations. E) the Federal Reserve System acting as a lender of last resort.
An example of price floor is
a. Minimum wages b. Rent controls in New York c. Both a and b d. None of the above
The reason that you don't drink five cups of coffee at breakfast is that
a. the marginal utility of extra cups of coffee eventually diminishes b. most people cannot afford five cups c. the total utility of coffee rises as you consume more cups d. the price of coffee rises as you buy more cups e. the marginal satisfaction derived from cups of coffee remains constant
What is the source of the demand for loanable funds in the open-economy macroeconomic model?