Which of the following is not a responsibility of the Federal Reserve?
a. Controlling the money supply
b. Printing paper currency
c. Supervising banks
d. Acting as a bank for banks (e.g., lender of last resort)
e. Clearing checks
B
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Direct foreign investment items have more liquidity than foreign portfolio investment items
Indicate whether the statement is true or false
Use the following statements to answer this question
I. To maximize profit, a firm will increase its advertising expenditures until the last dollar of advertising generates an additional dollar of revenue. II. The full marginal cost of advertising is the sum of the dollar spent directly on advertising and the marginal production cost that results form the increased sales that advertising brings about. A) Both I and II are true. B) I is true, and II is false. C) I is false, and II is true. D) Both I and II are false.