Prior to the 1980s, financial institutions called thrifts:
A. included commercial banks.
B. were permitted to offer checking accounts and accept savings deposits, and could pay interest on both.
C. could not pay interest on checkable deposits.
D. were permitted to accept only savings deposits with no checking privileges.
Answer: D
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A. decreases; decreases B. increases; increases C. increases; decreases D. no change; no change
Society's total cost of producing a good
a. includes only the cost to the firm b. includes only the external cost c. includes all private and external costs d. equals the value of the output level that maximizes the firm's profit e. equals the value of the output level that minimizes the firm's loss
One purpose of interest-rate ceilings was to: a. establish a ceiling on bank profits
b. establish a floor on bank profits. c. encourage competition in other areas. d. eliminate the need for the FDIC. e. reduce the chance of bank failures.
In 2009, household spending was the smallest component of total spending in the U.S. economy
a. True b. False Indicate whether the statement is true or false