The Monetary Control Act of 1980:
a. created less competition among various financial institutions.
b. allowed fewer institutions to offer checking account services.
c. restricted savings and loan associations to long-term loans.
d. all of the above.
e. none of the above.
e
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A perfectly competitive furniture-rental firm in Phoenix incurs an economic loss if the average total cost of each rental is
A) greater than the marginal revenue of each rental. B) less than the marginal revenue of each rental. C) equal to the marginal revenue of each rental. D) equal to the price of each rental. E) greater than the average variable cost of each rental.
The monetary base is equal to the sum of coins,
A) currency and banks' reserves at the Federal Reserve. B) currency and checkable deposits at banks. C) currency, banks' reserves at the Federal Reserve and checkable deposits at banks. D) and checkable deposits at banks. E) U.S. government securities owned by the Federal Reserve and Federal Reserve notes.