The Immediate Impetus for the Establishment of the Federal Reserve

question 205

Multiple Choice

The immediate impetus for the establishment of the Federal Reserve System came from

• A)severe outbreaks of inflation in the early 1900s.
• B)four severe banking panics between 1873 and 1907.
• C)the discovery of gold in Alaska.
• D)the desire to copy the founding of the Bank of England.

Identify the long-term trends in U.S. agriculture, including changes in farm employment, farm size, and the contribution of agriculture to GDP.

Explain the rationale and effects of government policies, including subsidies and price supports, on farming.

Comprehend the influence of income elasticity on the demand for agricultural products.

Identify the impacts of changes in consumer spending patterns on the agricultural sector.

---

Definitions:

Phone System

A multi-line communication system typically used in businesses for facilitating calls, voicemails, and conferencing.

Rationalization

The process of offering a logical or rational explanation for behaviors or attitudes that may otherwise appear irrational.

Socially Acceptable

Behaviors or practices widely accepted and approved by society or a specific societal group.

Real Reasons

The actual, underlying motives or causes for an action, which may differ from those that are stated or apparent.