Most Economists Today Agree That a Situation Like the Panic

question 54

Multiple Choice

Most economists today agree that a situation like the Panic of 1907 is unlikely to recur because

• A) of better bank management; unwise investments are very rare.
• B) our economy is no longer as dependent on the banking system as in the past.
• C) most people entrust only a small percentage of their money to banks.
• D) Congress has removed the burden of public regulation, freeing banks to be more profitable.
• E) government oversight and deposit insurance have given people more faith in banks than they used to have.

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Definitions:

Comparative Understanding

The ability to understand or evaluate something by comparing it with other similar things.

Factors That Influence

Various elements or conditions that affect outcomes or decisions in a specific context.

Cultural Awareness

Gaining in-depth awareness of one's own background, stereotypes, biases, prejudices, and assumptions about other people.

Self-Examination

A personal assessment process aimed at detecting signs of disease or abnormalities, often used in the context of cancer screening.