One of the principal ways in which Congress intended the Fed to provide insurance against financial panics was to act as a "lender of first resort."

Critically evaluate the following statement made in favor of the sub-prime loan bailout of mortgage companies who made high interest rate loans to marginal credit-worthy customers

"The government should do everything within its powers to prop up ailing lenders and homeowners, just as they've done in the past with other troubled industries, from airlines to savings and loans"

If a firm has market power in the output market but buys labor in a competitive market, it will hire the same quantity of labor that a competitive firm will

Indicate whether the statement is true or false