How do we find the slope of a nonlinear curve?
We can find the slope at a given point by drawing a straight-line tangent to that point on the curve (when a straight line just touches the curve without actually crossing it) and calculating the slope of the tangent line.
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On October 12, 1987, the Dow Jones Industrial Average plunged 508 points, wiping out more than $500 billion in a few hours. How did the Fed respond to this drastic fall in the stock market index?
A) The Fed responded precisely as it did when faced with a similar situation in 1929, that is, it deemed that no action was necessary. B) To encourage the business community to invest in the stock market, the Fed announced that it will sell federal securities to raise the interest rate. C) In an attempt to ward off a recession, the Fed announced that it will provide adequate liquidity, by buying federal securities. D) The Fed provided long-term loans to those corporations that experienced significant decreases in their stock value.
A restriction on bank activities that was repealed in 1999 was
A) the prohibition of the payment of interest on checking deposits. B) restrictions on credit terms. C) minimum down payments on loans to purchase securities. D) separation of commercial banking from the securities industries.