The Depository Institutions Deregulatory and Monetary Control Act of 1980

question 51

Multiple Choice

The Depository Institutions Deregulatory and Monetary Control Act of 1980 (DIDMCA)

• A)expanded the asset and liability powers for banks and thrifts.
• B)removed many of the regulations that had been put in place during the Great Depression.
• C)set uniform and universal reserve requirements for all depositories and suspended usury ceilings.
• D)All of the above are correct

---

Definitions:

Standard of Living

The degree of prosperity, ease, consumer goods, and basic needs accessible to a specific social class or location.

GDP

Gross Domestic Product, a monetary measure of the market value of all final goods and services produced in a country during a specific time period.

Labor Productivity Growth

An increase in the amount of goods and services produced per hour by the workforce.

Great Depression

A severe worldwide economic downturn in the 1930s, marked by high unemployment and financial instability.