As the "Last Hired, First Fired" Members of the U

question 65

Multiple Choice

As the "last hired, first fired" members of the U.S. workforce, how did African Americans attempt to survive the Great Depression?

• A)Many African American communities obtained huge amounts of loan from cooperative banks.
• B)Many African American communities turned to self-help as the best way to survive.
• C)Many African American communities migrated to the South in the hope of finding jobs.
• D)Many African American communities established businesses in black neighborhoods that priced goods far below what white businesses were charging.
• E)Many African American communities moved back to Africa.

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Definitions:

Discount Rate

The discount rate is the interest rate charged to commercial banks and other financial institutions for loans received from the Federal Reserve's discount window.

Prime Rate

The interest rate that commercial banks charge their most credit-worthy customers, frequently used as a benchmark in lending rates.

Commercial Banks

Financial institutions that accept deposits, offer various loans, and provide other financial services to the public.

Open Market Operations

Central bank activities involving the buying or selling of government securities to control the money supply and interest rates.