The purpose of deregulating banks during the 1980s was to:
a. eliminate the risk that banks incurred
b. allow banks to compete with other financial institutions.
c. allow U.S. banks to compete with foreign banks.
d. help consumers earn more interest.
e. decrease the cost of banking regulation.
b
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Every spring, motorists do more driving than during the winter months. Every spring, the price of gasoline increases and the motorists buy more gasoline. This experience suggests that the
A) "law of supply" does not always hold for necessities like gasoline. B) "law of demand" does not always hold for necessities like gasoline. C) laws of supply and demand are both contradicted for gasoline, though only during the spring driving season. D) None of the above answers are correct.
With the exception of during recessions, workers in Canada are eligible for unemployment benefits for about twice as long a period of time as workers in the United States. As a result
A) the unemployment rate in Canada is usually higher than in the United States. B) the opportunity cost of job search in Canada is lower than in the United States. C) frictional unemployment is higher, on average, in the United States than in Canada. D) the average duration of unemployment is longer in the United States than in Canada.