An Edge Act Corporation is:
A. a company created by a non-bank corporation used to purchase and operate banks.
B. a company created so a U.S. bank can operate in more than one state.
C. a subsidiary of a bank created to provide insurance and securities services.
D. a subsidiary of a domestic bank that is established specifically to engage in international banking transactions.
Answer: D
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Figure 4.5 illustrates a set of supply and demand curves for hamburgers. An increase in demand and an increase in quantity supplied are represented by a movement from
A) point b to point d. B) point d to point a. C) point c to point d. D) point b to point a.
If a tax was instituted such that every dollar collected in taxes from high income households resulted in a distribution of $.80 to low income households
A) efficiency and equality of incomes would both decrease. B) equality of incomes would increase but efficiency would decrease. C) efficiency would increase but equality of incomes would decrease. D) efficiency and equality of incomes would both increase.