Which one of the following statements concerning the Second Bank of the United States is not true?
a. It was created five years after the demise of the First Bank of the United States.
b. It had the right to issue its own notes.
c. It pressed for sounder specie backing of bank notes.
d. Its notes became the most widely accepted currency in the nation.
e. It faced strong regional resistance in the North.
E
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Which of the following is a feature of an M-Form organization?
a. divisions can respond more easily to changes in customer demand b. it is difficult to maintain customer relationships c. coordination across divisions is simple and does not take much management time d. evaluating employees is easier because managers typically are similarly trained
If the economy is in an inflationary boom, the Fed would most likely
a. increase bank reserves by raising the discount rate. b. increase bank reserves by buying government securities c. decrease bank reserves by lowering the discount rate. d. decrease bank reserves by selling government securities. e. decrease bank reserves by lowering the legal reserve requirement.
Individual Retirement Accounts and 401(k) plans make the current U.S. tax system
a. less like European tax systems than it otherwise would be. b. more like a payroll tax than it otherwise would be. c. more like an income tax than it otherwise would be. d. more like a consumption tax than it otherwise would be.
Which of the following items serve as a unit of account?
I. $100 cash II. checkable deposits III. an original Picasso painting IV. a $1,000 corporate bond that you own A) I only B) I and II C) I, II, and III D) I, II, and IV E) I, II, III, and IV