To say that the Federal Reserve Banks are quasi-public banks means that:
A. they deal only with banks of foreign nations and do not have direct business contact with U.S. banks.
B. they are publicly owned but privately managed.
C. they deal only with commercial banks, and not the public.
D. they are privately owned but managed in the public interest.
Answer: D
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The United States economy is
A. the third largest in the world. B. larger than all other national economies combined. C. the second largest in the world, behind Japan. D. the largest in the world.
Which of the following statements about demand is correct?
a. A change in the price of bicycles will not lead to a shift of the demand curve for bicycles. b. A change in the price of automobiles will lead to a shift of the demand curve for motorcycles. c. A change in demand is equivalent to a movement along a given demand curve. d. When price falls, so does the quantity demanded. e. When the demand curve shifts to the right, so will the supply curve.
In the short-run macro model, what type of unemployment is caused by insufficient spending?
a. Cyclical b. Structural c. Frictional d. Seasonal e. All types of unemployment are caused by insufficient spending
An innovation cycle could be caused by
a. a decreasing capital stock b. a sharp increase in national income c. a climatic change d. a sharp increase in the pace of technological change e. a decrease in the demand for housing