Which of the following is not an argument used in favor of protectionism?
A. to protect an "infant" industry
B. to reduce prices paid by domestic consumers
C. to preserve national security
D. to protect against "unfair" competition because of cheap foreign labor
Answer: B
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If a check was written on Bank A for $100 and Bank B presented the check to Bank A for payment, what will happen to the required reserves for each respective bank after payment is made?
A) Both banks will see a decrease in their required reserves. B) Bank A's required reserves increase; Bank B's decrease. C) Bank B's required reserves increase; Bank A's decrease. D) Both banks will see an increase in their required reserves.
Utilitarianism is the belief in a completely equal distribution of income for all people
Indicate whether the statement is true or false