After the Civil War, the National Banking Acts gave the federal government the power to do all of the following except _____.
(A) Require banks to hold adequate gold and silver.
(B) Charter banks.
(C) Insure banks against failure.
(D) Have a single national currency.
Ans: (C) Insure banks against failure.
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The immediate (two-day) exchange of one currency for another is a
A) forward transaction. B) spot transaction. C) money transaction. D) exchange transaction.
Is the Taylor rule compatible with a hierarchical mandate?
What will be an ideal response?
Real business cycle theory suggests that changes in
A. technology and resources affect productivity, and thus the long-run growth of aggregate supply. B. monetary policy is the single most important cause of macroeconomic instability. C. the velocity of money is gradual and predictable and thus able to accommodate the long-run changes in nominal GDP. D. investment spending will have a direct and significant effect on aggregate demand.
Which of the following will cause the demand curve for product A to shift to the left?
A. A decrease in the price of complementary product C B. An increase in money income if A is an inferior good C. An increase in money income if A is a normal good D. Population growth that causes an expansion in the number of persons consuming A