In 1790, There Were Only Three Banks in the U

question 5

Multiple Choice

In 1790, there were only three banks in the U.S. By 1811, there were 88. Most of these new banks were

• A) created and operated by the federal government.
• B) created and operated by state and local governments.
• C) private-sector, state-chartered banks.
• D) branches of banks with English charters.

---

Definitions:

Long-Term Investments

Assets intended to be held for more than one year, including stocks, bonds, real estate, and other financial instruments.

Financial Markets

Platforms or systems where buyers and sellers engage in the trading of financial assets such as stocks, bonds, currencies, and derivatives.

Benchmark

A standard or point of reference against which things may be compared or assessed.