One advantage of using checks over a debit card is:
A. the bank is responsible if someone steals your checks and uses them; this isn't the case with debit cards.
B. the person has "float," meaning time between writing the check and depositing funds to cover it.
C. a cancelled paper check is the only generally accepted proof of payment.
D. checks can be replaced if lost or stolen, a debit card cannot.
Answer: B
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According to the quantity theory of money, a shortage of money should result in deflation (falling prices) or negative growth (decreasing quantities of output)
Indicate whether the statement is true or false
Markets tend to underallocate resources to the production of a good when
A) there are negative externalities. B) there are positive externalities. C) there are public goods produced. D) equilibrium occurs.
The Monetary Control Act of 1980:
a. required banks to make home loans. b. eliminated many forms of competition among financial institutions. c. created sharper distinctions among various financial institutions. d. none of these.
If the numbers of employed and unemployed do not change but the size of the civilian population increases by 15%, what would be the effect?
a. no change in the unemployment rate and a decrease in the labor force participation rate b. an increase in the unemployment rate and a decrease in the labor force participation rate c. an increase in the unemployment rate and no change in the labor force participation rate d. an increase in the unemployment rate and an increase in the labor force participation rate