As part of the nation's recovery from the Great Depression of the 1930s, the banking system was reformed in which of the following ways?
(A) The banking system was taken off the gold standard.
(B) The government paid off loans for large corporations.
(C) Banks were deregulated by the government.
(D) The Federal Reserve Banks were closed.
Ans: (A) The banking system was taken off the gold standard.
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Kevin owns a personal training gymnasium in Orlando. The above figure shows the demand and cost curves for his firm, which competes in a monopolistically competitive market
If Kevin trains 5 clients per day, he will ________ his profit and will ________. A) maximize; earn normal profit B) not maximize; earn a normal profit anyway C) maximize; earn an economic profit D) not maximize; earn an economic profit anyway E) not maximize; incur an economic loss
Explain whether it is possible for a country to have a comparative advantage in the production of a product without having an absolute advantage in the production of that product
What will be an ideal response?