The Effect of the International Banking Act of 1978 Was

question 116

True/False

The effect of the International Banking Act of 1978 was to accelerate the expansion of foreign bank activities in the U.S.primarily because of their access to the Federal Reserve's discount window, Fedwire, and FDIC insurance.

---

Definitions:

Going Wage

The prevailing wage level for a given job in a specific market or industry, often determined by the balance of supply and demand for labor.

Labor

The deployment of human physical and cognitive efforts towards the creation of goods and the provision of services.

Equilibrium Price

The cost at which the amount of a product consumers want to buy matches the amount that producers are willing to sell.

Stadium

A large, usually outdoor structure for sports, concerts, or other events, featuring a field or stage and seating for spectators.