Prior to the 1960s, _____

question 54

Multiple Choice

Prior to the 1960s, _____.

• A)the majority of American savers were from the higher end of the income scale
• B)the majority of financial capital was generated from abroad
• C)the capital gains tax was at an all-time high of 50%
• D)American savers were spread across all categories of the income scale

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Definitions:

U.S. Government Securities

Financial instruments issued by the United States Department of the Treasury to fund federal government spending, including Treasury bonds, notes, and bills.

Bank's Assets

refer to the resources owned by a bank, including loans, investments, cash, and other valuables.

Fed's Assets

The assets held by the Federal Reserve, including government securities, gold certificates, foreign exchange, and loans to banks.

Banking System

The structural network of financial institutions, including central banks and commercial banks, that provides financial services to the economy.