With the creation of the Federal Deposit Insurance Corporation, member banks of the Federal Reserve System ________ to purchase FDIC insurance for their depositors, while non-member commercial banks ________ to buy deposit insurance
A) could choose; were required
B) could choose; were given the option
C) were required, could choose
D) were required; were required
C
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Producer surplus is the difference between the
A) price and the willingness to pay for the good. B) price and the marginal cost of producing the good summed over the quantity sold. C) willingness to pay for the good and the marginal cost of producing the good summed over the quantity sold. D) marginal benefit of consuming the good and the marginal cost of producing the good summed over the quantity sold.
The base period is the
A. First year in which inflation figures were calculated. B. Absence of significant changes in the average price level. C. Time period when full employment is reached. D. Time period used for comparative analysis.