A major loophole was punched through the McFadden Act as banks
A) formed bank holding companies.
B) developed negotiable certificates of deposit.
C) began paying interest on checkable deposits.
D) converted themselves into savings-and-loans.
A
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In a 2-good model, if individuals in a group all have tastes that are quasilinear in good 1, then we can treat the group as if it was a single representative consumer.
Answer the following statement true (T) or false (F)
Personal saving
a. equals national income less personal consumption expenditures. b. is personal disposable income minus consumption expenditures. c. is the value of stocks and bonds. d. equals personal income minus taxes. e. is personal disposable income less personal taxes.
If an economist wants to make a prediction about the effects of a change in disposable income on the change in consumption spending based on historical data, she must assume that
a. the future will closely resemble the past. b. consumption and disposable income will be negatively related. c. the consumption function will have a downward slope. d. as disposable income increases, consumer spending will remain constant.
Laffer curve
What will be an ideal response?