Mutual savings banks are primarily regulated by
A) the states in which they are located.
B) the Federal Reserve.
C) the FDIC.
D) the National Credit Union Administration.
A
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Assume that a 6 percent increase in income in the economy produces a 3 percent increase in the quantity demanded of good X. The coefficient of income elasticity of demand is:
A. negative and therefore X is an inferior good. B. positive but less than one; therefore X is an inferior good. C. positive and therefore X is an inferior good. D. positive and therefore X is a normal good.
Productive efficiency occurs at the point where
A. consumer surplus exceeds producer surplus by the greatest amount. B. the production technique minimizes cost. C. the production technique minimizes economic surplus. D. marginal benefit exceeds marginal cost by the greatest amount.