Question 36 The Depository Institutions Deregulation and Monetary Control Act of

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Question 36 The Depository Institutions Deregulation and Monetary Control Act of 1980 did not require all commercial banks to join the Federal Reserve System expand the use of Fed services to nonmember banks increase FDIC and FSLIC insurance coverage expand the availability of checking accounts Question 37 One problem associated with the National Banking System was the perverse elasticity of the money supply the tendency of bank reserves to stay in local communities inadequate backing for national bank notes excessive loans made to farmers Question 38 During the so-called wildcat banking period in the United States, there was no central authority in the U.S. banking system abusive banking practices were prevalent the National Banking System provided bank note security both (a) and (b) Question 40 The existence of undistributed corporate profits tends to cause NNP to be smaller than GDP national income to be larger than personal income national income to be smaller than NNP personal income to be larger than disposable personal income Question 41 Because of the value of things produced in households, the GDP value is adjusted upward the GDP value is adjusted downward GDP is probably somewhat smaller than true total output GDP is probably somewhat larger than true total output

Explanation / Answer

Question 36

expand the use of Fed services to nonmember banks

Question 37

the perverse elasticity of the money supply

Question 38

both (a) and (b)

Question 40

personal income to be larger than disposable personal income

Question 41

GDP is probably somewhat smaller than true total output

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