One of the results of the limit on bank branching was:
A. curtailment of credit availability for borrowers in small towns.
B. lower profits for banks.
C. increased efficiency in the operations of banks.
D. increased diversification in the loan portfolio of small banks.
Answer: A
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As an economic expansion approaches its peak, it is very likely that real GDP will
A) exceed nominal GDP. B) exceed potential GDP. C) equal nominal GDP but not potential GDP. D) be less than potential GDP. E) equal nominal GDP and equal potential GDP.
Which of the following is an example of an activity that creates a positive externality?
a. an iron smelting factory emits sulfur dioxide into the air b. the owner of a steamboat company dredges a river in order to improve navigation c. a group of investors starts a business specializing in transporting goods via clipper ship d. flatboat operators purchase steamboat tickets in order to return to their homes upstream
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What will be an ideal response?
Proponents of the flexible exchange rate system argue that under a fixed exchange rate system,
A) there is too great a chance that the exchange rate will diverge from the equilibrium exchange rate. B) nations that experience persistent trade deficits might be tempted to impose trade barriers. C) nations might sacrifice their domestic economic policy goals for the sake of maintaining the exchange rate. D) b and c E) a, b, and c