By Banning the Importation of Slaves by 1808 with the Constitution

question 30

Multiple Choice

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

• A) They wanted to start 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.

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Definitions:

Foregone Interest

The potential interest income lost by choosing an alternative investment or spending decision instead of the present option that yields interest.

FDIC Insurance

A federal guarantee of safety for depositor funds in member banks, up to a defined limit.

Bank Panics

Situations in which a large number of bank customers attempt to withdraw their deposits simultaneously due to fears that the bank will become insolvent.

Checking Deposits

Balances in bank accounts from which funds can be withdrawn by writing a check or using a debit card, usually without any interest benefits.