Prior to 1863, all commercial banks in the United States
A) were chartered by the U.S. Treasury Department.
B) were chartered by the banking commission of the state in which they operated.
C) were regulated by the Federal Reserve.
D) were regulated by the central bank.
B
You might also like to view...
Does the experience of World War II demonstrate that government budget deficits and surpluses can be used to stabilize aggregate demand?
A) No, because the deficits run during the 1930s did not end the recession. B) No, because the fact that deficits or surpluses can alter aggregate demand does not prove they can stabilize it. C) Yes, because nominal GDP increased by more than the amount of the deficit in each wartime year. D) Yes, because World War II demonstrated the multiplier effect of deficits.
As a competitive firm hires increasing amounts of labor, the value of marginal product of labor
A) decreases. B) increases. C) remains constant. D) decreases then increases.
The total cost of producing one unit of output is $200; two units cost $300, three units $450, and four units $800. Fixed cost is $50. Draw the associated total cost, average cost, and marginal cost curves, placing total cost on one graph and marginal and average cost on a second graph.
What will be an ideal response?
In the 1930s our main economic problem, said John Maynard Keynes, was
A. inflation. B. insufficient aggregate demand. C. too much government interference with the economy. D. huge budget deficits.