The immediate impetus for the establishment of the Federal Reserve System came from
a. severe outbreaks of inflation in the early 1900s.
b. four severe banking panics between 1873 and 1907.
c. the discovery of gold in Alaska.
d. the desire to copy the founding of the Bank of England.
b
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Which type of unemployment is likely to decrease the most during an economy's boom?
a. Frictional unemployment b. Seasonal unemployment c. Structural unemployment d. Cyclical unemployment e. Underemployment
One reason why, in the last four decades, the number of new auto makers in the world has been very small compared to the past is that
A) the automobile cannot be improved upon in any way by new producers. B) new auto makers cannot obtain necessary inputs to produce new cars. C) governments restrict who can produce automobiles. D) new producers cannot match the economies of scale of existing auto makers.