A benefit-based standard
a. is one that balances social benefits with social costs, at the margin
b. achieves allocative efficiency
c. achieves a cost-effective level of pollution abatement
d. is set to improve society’s well-being without consideration for costs
d. is set to improve society’s well-being without consideration for costs
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Which of the following is classified as a liability for a commercial bank?
A) Reserves B) Commercial loans C) Demand deposits D) Deposits with the Federal Reserve
A country on a gold standard was able to maintain people's confidence in the value of its currency by:
a. printing more and more paper money. b. restricting international exchange of goods and services. c. ensuring the convertibility of paper money into gold. d. maintaining a fixed stock of foreign currencies. e. ensuring balance of payment surplus.