Question 1

The ____________________ Treasury System was a network of federal offices that handled U.S. government money in the years preceding the Civil War.

Accepted Answer

The answer of The ____________________ Treasury System was a network...

Question 2

Give three examples of paper currency in use today.

Accepted Answer

The answer of Give three examples of paper currency in...

Question 3

Angie's salary is $45,000. If inflation this year is 3 percent, what does Angie's salary need to be in order to hold the same purchasing value?

Accepted Answer

The answer of Angie's salary is $45,000. If inflation this...

Question 4

The Emergency Banking Act of 1933

Accepted Answer

A) founded the system of central banking still used in the United States. 
B) established a bank holiday that closed all banks in the country for one month. 
C)  expanded the monetary controls of the Federal Reserve. 
D)  separated commercial banking from investment banking to protect assets.

Question 5

Why did Franklin
D. Roosevelt declare a bank holiday in March 1933?

Accepted Answer

The answer of Why did Franklin
D. Roosevelt declare a bank...

Question 6

When a stock is bought on ____________________, it is purchased for a fraction of its price and then resold at a profit without the full purchase price of the stock ever having been paid.

Accepted Answer

The answer of When a stock is bought on ____________________,...

Question 7

The largest denomination dollar note currently printed is the $100 note.

Accepted Answer

A) True 
 B)False

Question 8

The original cost of a product is $75. Inflation for the first year is 8 percent; for the second year, inflation is 10 percent. What is the cost of the product at the end of the second year?

Accepted Answer

The answer of The original cost of a product is...

Question 9

The Civil War in America brought monetary issues to a crisis point because

Accepted Answer

A) state banks began to lose influence. 
B) rampant inflation threatened the entire economic system. 
C)  the counterfeiting of money became widespread. 
D)  all of the above.

Question 10

What is stagflation?

Accepted Answer

The answer of What is stagflation?...

Exam 2: Development of the Us Banking System