The Main Problem with the Banking System from 1864 to 1913

question 458

Multiple Choice

The main problem with the banking system from 1864 to 1913 was that:

• A)the Federal Reserve's monetary policy was too restrictive.
• B)government budget deficits destabilized the system.
• C)the money supply was not sufficiently responsive to local economic changes.
• D)the currency was not uniform because each bank issued its own notes.

---

Definitions:

Small Business Owner

An individual who owns and operates a business that is smaller in size, typically identified by revenue, employees, or other criteria.

Ethic Of Ultimate Ends

A moral philosophy that evaluates actions by their consequences or ultimate outcomes, often associated with utilitarianism.

Max Weber

A German sociologist, economist, and political scientist known for his theory on the structure of authority and his insights on the development of capitalism.

National Leaders

Individuals holding positions of significant political authority or influence over a country, usually involved in decision-making and governance.