Which of the following actions did Congress take in the 1930s, in an effort to prevent future financial crises like the stock market crash of 1929?
A. Glass-Steagall Banking Act
B. Bubble Act
C. Hastings Banking Act
D. Formation of the CBO (Congressional Budget Office)
A. Glass-Steagall Banking Act
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If oligopolists engaged in some sort of collusion, industry output would be __________ and the price would be __________ than under perfect competition
a. smaller, lower b. smaller, higher c. smaller, no different d. greater, lower e. greater, higher
The level of Real GDP and the price level always have a direct relationship
Indicate whether the statement is true or false
In the long run, inflation
a. and unemployment are primarily determined by labor market factors. b. and unemployment are primarily determined by the rate of money supply growth. c. is primarily determined by the rate of money supply growth while unemployment is primarily determined by labor market factors. d. is primarily determined by labor market factors while unemployment is primarily determined by the rate of money supply growth.
The price elasticity of demand measures the responsiveness of the quantity:
a. demanded to changes in product quality. b. demanded to changes in income. c. demanded to changes in price. d. of supply to changes in demandf