What was not one of the primary reasons why people opposed the First and Second Banks of the United States?
a. They printed too much money and triggered a substantial inflation.
b. They had monopoly control over some banking activities.
c. They were unconstitutional.
d. They did not provide sufficiently generous lending policies.
a. They printed too much money and triggered a substantial inflation.
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For any given output level, a firm's long-run costs
a. are always greater than or equal to its short-run costs. b. are usually greater than or equal to its short-run costs except in the case of diminishing returns to scale. c. are always less than or equal to its short-run costs. d. are usually less than or equal to its short-run costs except in the case of diminishing returns to scale.
The large trade deficit that the United States has with China persists in part because:
A. the U.S. economy has grown slowly in recent years. B. China has fixed its exchange rate to a basket of currencies that includes the dollar, and has not allowed the yuan to appreciate relative to the U.S. dollar. C. China has experienced rapid economic growth over the past decade. D. China has recently imposed or increased tariffs on most goods imported from the United States.