Economics is generally concerned with
a. the operation of banks and the stock market.
b. business management.
c. how resources are allocated among alternative goals.
d. the right time to start a business.
c
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The government agency that insures deposits held in banks in the United States is
A) the Federal Bank Insurance Corporation. B) the Federal Deposit Insurance Corporation. C) the Federal Asset Insurance Corporation. D) the Federal Reserve System.
An important effect of fractional reserve banking is that: a. bankers' choices about how much to lend can affect the money supply
b. the commercial banking system has complete control over total reserves. c. bankers always turn every dollar of excess reserves into loans. d. a new bank deposit allows a bank to extend loans of the same amount to borrowers.