By 1900, what did the National Banking System under the Bank Act of 1863 (and subsequent amendments) help national banks attain? (a) A majority of banking establishments (b) A majority of banking assets (c) A monopoly issue of paper money (d) All of the above ANSWER (c)
Date: September 10th, 2020
Under the National Banking Acts of 1863 and 1864, the U.S. monetary system (a) experienced drastic changes. (b) played a role in helping the Union finance the Civil War. (c) permitted, for the first time, the federal government to charter banks. (d) protected the rights of states to be the only entities to charter banks. […]
Date: September 10th, 2020
Investment in the agricultural economy of the antebellum period of U.S. history usually entailed everything below except (a) Clearing lands (b) Purchasing stocks and bonds (c) Constructing fences and buildings (d) Purchasing farm implements ANSWER (b)
Date: September 10th, 2020
The National Banking System under the Bank Act of 1863 created a banking system comprised of a mixture of (a) special state charters. (b) nonchartered private banks. (c) free banks. (d) all of the above. ANSWER (d)
Date: September 10th, 2020
Technological advancements in the antebellum period were (a) constant and stable. (b) almost non-existent. (c) concentrated in manufacturing. (d) slow in coming but labor-saving—especially in agriculture—when they emerged. ANSWER (d)
Date: September 10th, 2020
The increase in tax on state bank notes from 2 to 10 percent provided state banks incentive to (a) attract more demand deposits and increase the use of checks. (b) increase the amount of state notes and use them to extend bank credit. (c) increase the minting of coins and use them for exchange and […]
Date: September 10th, 2020
Which of the following factors caused the Civil War? (a) Slavery (b) The conflict between the two systems of agriculture (c) A shift in political power resulting from new states entering the Union as free or slave states (d) All of the above ANSWER (d)
Date: September 10th, 2020
What are demand deposits? (a) Money held by private individuals or corporations placed in depository accounts at banks (b) Liabilities (things that are owed) to banks and assets (things of value) to depositors or bank customers (c) Checking accounts that depositors can use on demand (d) All of the above ANSWER (d)
Date: September 10th, 2020
Out of the various types of M1 (demand deposits, coins and bank notes), only demand deposits (a) can be used to generate loans by banks. (b) serve as a medium of exchange. (c) serve as a unit of account. (d) store value. ANSWER (a)
Date: September 10th, 2020
Between 1790 and 1860, Southern population growth was dominated by growth in the slave population. Indicate whether the statement is true or false ANSWER FALSE
Date: September 10th, 2020
