To Put an End to the Vicious Cycle of Bank

question 98

Multiple Choice

To put an end to the vicious cycle of bank failures during the early 1930s:

• A)President Franklin Roosevelt declared a bank holiday, temporarily closing all banks.
• B)the Federal Reserve System was established.
• C)a system of shadow banks was developed to replace the troubled commercial banks.
• D)the government nationalized all commercial banks.

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Definitions:

Distributive Property

A fundamental property of algebra stating that a(b + c) = ab + ac, allowing the distribution of multiplication over addition or subtraction.

Distributive Property

A property indicating that for any three numbers, the product of a number and the sum of the other two is equal to the sum of the individual products of the number with each of the other two.

Arithmetic

A branch of mathematics that deals with numbers and the basic operations such as addition, subtraction, multiplication, and division.