Which of the following is true of International Banking Facilities (IBFs) in the U.S.?
a. IBFs were legalized by the Federal Reserve Board in 1970.
b. IBFs are bookkeeping systems set up in existing bank offices of the U.S. to record international banking transactions
c. IBFs are "shell" bank branches of U.S. banks in the Caribbean.
d. Loans extended by the IBFs are subject to reserve requirements and interest rate regulations.
e. IBFs are allowed to extend loans to the residents and businesses of the United States and not to the nonresidents.
b
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What does the demand for labor depend on, directly or indirectly?
(a) The wage rate (b) Productivity of labor (c) Demand for the goods and services produced by the labor (d) All of the above
Which of the following statements about a supply curve is FALSE?
A) It shows a direct (positive) relationship between price and quantity supplied. B) It shows the quantity supplied at each specific price. C) It typically slopes downward to the right. D) It has a positive slope.