If people accurately speculate that a run on one bank will result in a run on all banks, the financial system would experience what is known as a

Income and wealth were equally or evenly distributed by 1860 in the United States

Indicate whether the statement is true or false

During the Reagan administration, the Laffer curve was used to ague that:

a. the supply-side effects of tax cuts are relatively small. b. discretionary tax cuts are unwise because they create stagflation. c. lower income tax rates could increase tax revenues. d. a "flat tax" would simplify the tax code and stimulate economic growth.