Which of the Following Was Not Part of the Glass-Steagall

question 56

Multiple Choice

Which of the following was not part of the Glass-Steagall Act of 1933?

• A)interstate banking and branching
• B)imposing minimum floors on interest rates
• C)creation of the FDIC
• D)Both a and b are correct.

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Definitions:

Double Taxation

A situation where the same income is taxed twice, often referring to corporate profits taxed at both the company and shareholder levels when dividends are distributed.

Disadvantage

An unfavorable condition or circumstance that reduces one's ability to achieve or accomplish something.

Corporate Form

A legal entity status that allows a group to operate as a single entity recognized by law, typically providing limited liability to its owners.

Corporate Liability

The legal and financial responsibilities a corporation faces for its actions or failures to act, potentially including civil liabilities or criminal penalties.