Which of the following statements concerning the First Bank of the United States is not true?
a. Its goal was to prevent state-chartered banks from overissuing bank notes.
b. Its charter lasted 20 years.
c. It was the first version of a central bank in the United States.
d. It served as the government's fiscal agent.
e. It was the first bank chartered in the United States.
E
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The above figure shows the demand and cost curves for a firm in monopolistic competition in the long run. The firm maximizes its profit by
A) producing 4 units and charging a price of $15. B) producing 8 units and charging a price of $5. C) producing 16 units and charging a price of $10. D) None of the above answers is correct.
Deflation refers to
A) a falling price level. B) a decrease in the rate of inflation. C) Both A and B are correct. D) None of the above is correct.