Foreign exchange is traded:
a. weekly on the Internet in special auctions arranged by the Federal Reserve.
b. continuously all over the world 24 hours a day and seven days a week.
c. only in officially designated trading centers such as London or New York.
d. It is traded in none of these ways or venues.
Ans: b. continuously all over the world 24 hours a day and seven days a week.
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Banks have responded to new regulations resulting from the Dodd-Frank Act in all of the following ways EXCEPT:
A) raising minimum balances on free checking accounts B) closing branches in low-income neighborhoods C) raising overdraft fees D) increased marketing of securities and financial advice to high-income customers
The largest component of the M1 definition of the money supply is:
a. traveler's checks. b. savings accounts. c. money market accounts. d. checkable deposits