Money ________ transaction costs, allowing people to specialize in what they do best

A key property of a Diamond-Dybvig bank is

A) it is well-diversified. B) it lends to borrowers. C) it provides benefits very different from the provision of insurance. D) it trades with other banks.

The federal income tax is progressive because poor people pay little or no taxes

a. True b. False Indicate whether the statement is true or false