Actions by the Second Bank of the United States:
a. reduced the discount rate on state bank notes.
b. increased the discount rate on state bank notes.
c. created inflation.
d. effectively ended the use of state bank notes.
a. reduced the discount rate on state bank notes.
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Which of the following best illustrates the concept of "derived demand"? a. An increase in the wages of autoworkers leads to an increase in the demand for robots in automobile factories. b. An auto firm decides to supply more minivans when there is a decrease in the demand for station wagons. c. An increase in the price of gasoline leads to an increase in the demand for small cars
d. An automobile firm faces an increase in the demand for cars it supplies to the market, which leads to an increase in the demand for autoworkers.
Mr. Calhoun owned land on which cotton could be grown, but which he had been unable to rent for years. Suddenly he was getting offers from cotton farmers to lease his land. Which of the following best explains this change in circumstances? a. The price of cotton decreased
b. The price of cotton increased. c. The productivity of the land increased. d. Property taxes on the land increased.