When was the first Bank of the United States formed by the Federalists?
(A) In the first quarter of the nineteenth century
(B) During the American Revolution
(C) In the late eighteenth century
(D) After the Civil War
Ans: (C) In the late eighteenth century
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Which of the following suggests that people have no control over the number of hours they work?
a. Most workdays last from 8 a.m. to 5 p.m. b. People make use of the opportunity for overtime. c. People make use of the opportunity to moonlight. d. People make use of early retirement options. e. Many workers hold more than one job.
What is the order in which an economy tries to solve the issue of resource allocation?
A. Production planning, distribution, and output selection B. Output selection, production planning, and distribution C. Production planning, output selection, and distribution D. Distribution, production planning, and output selection
Gross Domestic Product is an economic aggregate that represents the
a. potential output of a country. b. total product of a nation's economy. c. total income earned from all sales. d. total product that a country exports.
Assume that you pay $10,000 of tax on a taxable income of $50,000. If your taxable income were $150,000, your tax payment would be $25,000. This tax structure is:
A. proportional. B. regressive. C. progressive. D. discriminatory.