Which act established rules and regulations for minimum wage, overtime pay, record-keeping and child labor standards? (a) Fair Labor Standards Act of 1938 (b) Walsh-Healy Act of 1936 (c) National Industrial Recovery Act (1933) (d) Wagner Act of 1935 ANSWER (a)
Date: September 10th, 2020
Net worth and assets are the same. Indicate whether the statement is true or false ANSWER FALSE
Date: September 10th, 2020
Which of the following is the largest asset on a consolidated balance sheet for a commercial bank? a. Checkable deposits b. government bonds c. Cash assets, including reserves d. Loans e. Borrowing from the Federal Reserve ANSWER D
Date: September 10th, 2020
During the New Deal, the structure of capitalism in the U.S. changed forever in each of the following areas except for one. Which one? (a) The relation between government and markets changed in the sense that government interventions of one sort or another occurred. (b) The Federal Reserve System began to control actively the money […]
Date: September 10th, 2020
Tertiary employment tended to require generalized education and/or training and, therefore, it was found primarily in rural areas. Indicate whether the statement is true or false ANSWER FALSE
Date: September 10th, 2020
If commercial banks hold checkable deposits of $100,000, reserves of $30,000, and the required reserve ratio is 20 percent, what is the maximum additional amount by which the banking system can expand the money supply? a. $20,000 b. $30,000 c. $50,000 d. $60,000 e. -$50,000 ANSWER C
Date: September 10th, 2020
Output produced and sold always generates profits for businesses. Indicate whether the statement is true or false ANSWER FALSE
Date: September 10th, 2020
As an economy grows and develops, the police powers of the government with respect to controlling, regulating and inspecting businesses and their output become increasingly more costly to uphold and protect. Indicate whether the statement is true or false ANSWER TRUE
Date: September 10th, 2020
If the Federal Reserve purchases $1 million in government securities in the open market, with a 25 percent required reserve ratio on deposits, the maximum increase in deposits would be a. $4 million. b. $10 million. c. $25 million. d. -$4 million. e. none of the above ANSWER A
Date: September 10th, 2020
When the government increased spending during the 1930s in an attempt to create jobs and end the Great Depression, it provided an example of expansionary (a) fiscal policy. (b) monetary policy. (c) regulatory policy. (d) welfare policy. ANSWER (a)
Date: September 10th, 2020
