Ch 15 Quiz questions
Which of the following is not a responsibility of the Federal Deposit Insurance Corporation (FDIC)? Manage receiverships. Insure deposits. Supervise financial institutions for financial stability. Protect consumer from excessive losses in the stock market
Protect consumer from excessive losses in the stock market
Which of the following is not one of the four stages of a business cycle? Trough. Expansion. Contraction. Stagnation.
Stagnation.
Fred and Wilma are married with two boys, Slate and Stone. They have the following accounts with the following balances at their local bank: • Fred (individual account) $450,000 • Wilma (individual account) $175,000 • Fred & Wilma (joint account) $300,000 • Wilma & Slate (joint account) $100,000 How much of all of their accounts will be insured by the FDIC?
$825,000 Fred's individual account will be insured up to $250,000. Wilma's individual account is fully insured ($175,000). Fred & Wilma's joint account is fully insured at $150,000 each. Wilma and Slate's account is fully insured at $50,000 each. Therefore, $825,000 is insured by the FDIC.
Which of the following statements is correct? All of these are correct. A U.S. rugby player who plays professionally in New Zealand would be included in the U.S. GNP. An Australian actor who works in the United States would not be included in the U.S. GDP. A U.S. businessman who owns a factory in Mexico would be included in the U.S. GDP.
A U.S. rugby player who plays professionally in New Zealand would be included in the U.S. GNP.
Which of the following would cause the demand curve to shift downward and to the left? Decrease in tax rates. Increase in disposable income. A decrease in the price of a substitute product. Decrease in unemployment rate.
A decrease in the price of a substitute product.
Which of the following is/are examples of monetary policy? Excess Reserves. All of these Open Market Operations. The Reserve Requirement.
All of these
Which of the following debts is dischargeable in Chapter 7 bankruptcy? Student Loans. Property liens. Auto Loan. Debt obtained through fraud.
Auto Loan.
Which of the following describes when inflation is continuing, but at a declining rate? Deflation. Disinflation. None of these. Outflation.
Disinflation
Which of the following best describes when an individual is voluntarily unemployed because they are seeking other job opportunities and they have not found the desired employment yet? Wait-and-See Unemployment. Cyclical Unemployment. Structural Unemployment. Frictional Unemployment.
Frictional Unemployment.
Which of the following is not one of The Federal Reserve's primary goals? Keep interest rates low. Maintain price levels. Maintain long-term economic growth. Maintain full employment.
Keep interest rates low.
