By Banning the Importation of Slaves by 1808 with the Constitution

question 116

Multiple Choice

By banning the importation of slaves by 1808 with the Constitution, what did critics of slavery hope to accomplish?

• A) They wanted accelerate the start of a civil war.
• B) They wanted to weaken the shipbuilding industry in the United States.
• C) They hoped cutting off the supply would eventually end slavery in the United States.
• D) They hoped the national government would focus on developing manufacturing.
• E) Their goal was to weaken the Quakers, who were critical of slavery.

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Definitions:

Reserve Requirement

A regulatory mandate on banks to hold a certain percentage of their deposits in reserve either in their vaults or at the central bank.

Excess Reserves

The capital reserves held by a bank or financial institution in excess of what is required by regulators, creditors, or internal controls.

Money Supply

The total amount of monetary assets available in an economy at a specific time, including currency and various types of bank deposits.

Open Market Purchases

Actions by a central bank to buy securities in the open market to increase the money supply and lower interest rates, aiming to stimulate economic activity.