The McFadden Act was passed to prevent
A) banks from competing on the basis of deposit rates.
B) foreign banks from operating in the United States.
C) large nationwide banks from forming.
D) banks from holding corporate stock as an asset.
C
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When the demand curve shifts rightward and the supply curve shifts leftward, then the equilibrium price ________ and the equilibrium quantity ________
A) rises; decreases B) falls; increases C) rises; probably changes but the direction of the change cannot be determined D) probably changes but the direction of the change cannot be determined; increases
In the above figure, curve D slopes downward because
A) average fixed costs decrease as output increases. B) all costs decrease as output increases. C) there are diminishing returns. D) there are decreasing marginal costs.