Macroeconomics

The Erie Canal provided the first reliable and relatively quick east-w

The Erie Canal provided the first reliable and relatively quick east-west link in markets. This link, consequently, (a) increased profit margins and expanded markets for agriculturalists. (b) increased consumer prices in all markets. (c) increased transportation costs. (d) hindered trade and the accumulation of wealth.   ANSWER (a)

Read full post

Date: September 10th, 2020

Under the National Banking Acts of 1863 and 1864, the U.S. monetary sy

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. […]

Read full post

Date: September 10th, 2020

The increase in tax on state bank notes from 2 to 10 percent provided

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 […]

Read full post

Date: September 10th, 2020

What are demand deposits? (a) Money held by private individuals or co

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)

Read full post

Date: September 10th, 2020