Answer:
The correct answers are letters "B" and "C": The act allowed the Federal Reserve to set uniform reserve requirements for all commercial banks; and, the act allowed commercial banks to pay unrestricted interest rates on checking accounts.
Explanation:
The Monetary Control Act (<em>MAC</em>) passed in 1980 is considered to be the first set of rules established in the banking industry after the Great Depression (1929). It mainly forced all the banks to remain under the rules of the Federal Reserve. Besides, it provided banks the autonomy to choose the interest rate on accounts under their own discretion.
Answer:
APR =5.263%
Explanation:
Computation of the true annual percentage rate
Using the APR formula to find the true annual percentage rate
APR=(2 × n × I) / [P × (N + 1)]
Hence;
APR= (2 × 1 × $100) / [$1,900 × (1 + 1)]
APR=$200/($1,900×2)
APR=$200/$3,800
APR= 0.05263 ×100
APR =5.263%
Therefore the true annual percentage rate using the APR formula will be 5.263%
Answer:
The correct answer is option c.
Explanation:
A competitive firm has been selling its output for $20 per unit and has been maximizing its profit, which is positive.
The price falls to $18, and the firm makes whatever adjustments are necessary to maximize its profit at the lower price.
A competitive firm will produce at the point where the marginal cost is equal to price. When the price is lowered the firm will produce at a point with lower marginal cost.
It will thus produce lesser output than what it was producing earlier. So the quantity of output will be lower than previously.
Answer:
In the short run, these workers are variable inputs, and the ovens are fixed inputs.
Explanation:
See attached file
Answer:
$57,600
Explanation:
The computation of the depreciation expense under the Double-declining balance method is shown below:
First we have to find the depreciation rate which is shown below:
= 1 ÷ useful life
= 1 ÷ 5 years
= 20%
Now the rate is double So, 40%
In year 1, the original cost is $240,000, so the depreciation is $96,000 after applying the 40% depreciation rate
And, in year 2, the $144,000 × 40% = $57,600
The $144,000 is come from
= $240,000 - $96,000
= $144,000