The essential functions of any central bank are:
A. managing the money supply, and acting as a lender of last resort.
B. overseeing major business transactions, and managing the money supply.
C. preventing the formulation of monopolies or other market failure, and acting as a lender of last resort.
D. collecting taxes, and managing the supply of money.
A. managing the money supply, and acting as a lender of last resort.
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Which of the following is true about the game in Scenario 13.2?
A) ABC's dominant strategy is to offer a rebate. B) ABC's dominant strategy is not offer a rebate. C) XYZ's dominant strategy is to offer a rebate. D) XYZ's dominant strategy is not offer a rebate. E) Both ABC and XYZ offer a rebate as a dominant strategy.
In Figure 6.6 if price is P1, then the industry will:
A. expand. B. contract. C. stay the same size. D. merge.