The Need for a Lender of Last Resort Was Identified

question 42

Multiple Choice

The need for a lender of last resort was identified as far back as:

• A) the start of the Great Depression in 1929.
• B) 1913, when the Federal Reserve was created.
• C) 1873, by British economist Walter Bagehot.
• D) 1776, by the first U.S. Secretary of the Treasury, Alexander Hamilton.

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Definitions:

Phenothiazines

A class of antipsychotic drugs used to treat psychiatric disorders such as schizophrenia and bipolar disorder.

Hallucinations

Perceptions in the absence of external stimuli that have qualities of real perception, often seen in various mental disorders.

Delusions

False beliefs held with strong conviction despite superior evidence to the contrary, often symptomatic of mental health disorders.

Mental Health Spending

Financial expenditures dedicated to mental health care, including prevention, diagnosis, treatment, and rehabilitation services.