When Congress established the Federal Reserve in 1913, what was its main responsibility? When did Congress broaden the Fed's responsibilities?
What will be an ideal response?
When Congress established the Fed in 1913, the main responsibility of the Fed was to prevent bank panics by making discount loans to banks. Congress broadened the Fed's responsibilities in the aftermath of the Great Depression.
You might also like to view...
________ shows the values of a variable for different groups in the population at a certain point in time
A) The origin B) A time-series graph C) A trend-line graph D) A cross-section graph E) A scatter plot
The difference between money and income is that
A) money is a flow and income is a stock. B) money is a stock and income is a flow. C) there is no difference—money and income are both stocks. D) there is no difference—money and income are both flows.
When comparisons are made between the earnings of whites and minorities with the same age, quantity of schooling, marital status, sector of employment, union and industry status, regional location, and annual hours worked, recent studies indicate that
a. the corrected earnings of minority men are about two-thirds the earnings of white men. b. earnings differentials between whites and minorities are due almost exclusively to employment discrimination. c. the corrected earnings of Mexican-Americans, Asian-Americans, and American Indians were between 7 and 9 percent less than the earnings of similar white men. d. most minority men now have higher earnings than white men.
In a very basic principal-agent model, output is contractible if:
A. the employee works in a team. B. the employee produces many products. C. output can be observed with some positive cost. D. the employee produces a single output.