One of the First Steps That President Roosevelt Took to Ease

question 67

Multiple Choice

One of the first steps that President Roosevelt took to ease the U.S.banking crisis of the 1930s was to

• A)declare a bank holiday,which closed banks for a week
• B)increase loans by the Fed to member banks
• C)decrease the reserve requirement
• D)increase the reserve requirement
• E)appoint a new chairman of the Fed

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Definitions:

Expense Equation

The sum of the fixed and variable expenses.

Average Cost

A method to determine the cost of goods sold or inventory valuation where all costs of acquisition are averaged over the total units available for sale.

Supply Functions

Mathematical expressions that describe how the quantity of goods or services offered by suppliers changes in response to price changes.

Demand Functions

Mathematical expressions that show the relationship between the quantity demanded of a good or service and its price.