Bank panics were the result of
A. banks holding 100% of their deposits on reserve.
B. depositors attempting to withdraw more deposits than the banks held in reserve.
C. banks hoarding greenbacks during the Civil War.
D. the United States going off the gold standard in 1933.
B. depositors attempting to withdraw more deposits than the banks held in reserve.
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The following data represent a personal income tax schedule. Answer the next question on the basis of this information.Taxable IncomeTotal Tax$15,000$1,50030,0003,50060,0009,000120,00035,000As income increases, the marginal tax rate
A. has no definite pattern. B. increases. C. remains constant. D. decreases.
The exit of existing firms from a competitive market will
a. increase market supply and increase market price. b. increase market supply and decrease market price. c. decrease market supply and increase market price. d. decrease market supply and decrease market price.
Economic stagnation coupled with high inflation is commonly called:
A. stagflation. B. inflationary stagnation. C. stagnatory growth. D. inflagnation.
The ability of one person or nation to produce a good at a lower opportunity cost than another is called a(n):
A. market advantage. B. comparative advantage. C. absolute advantage. D. specialization advantage.