You are studying with a friend and your friend says "A budget line shows the various combinations of two goods that can be purchased with the buyer's income at current prices." Is your friend's assessment correct or not?

Banks that actively manage liabilities will most likely meet a reserve shortfall by

A) calling in loans. B) borrowing federal funds. C) selling municipal bonds. D) seeking new deposits.

The Federal Trade Commission was established in 1914 to

A) regulate trade of public goods. B) promote competition in interstate commerce. C) investigate unfair competitive practices. D) prevent non-price competition.