There May NOT Have Been Business Cycles in the United

question 104

Multiple Choice

There may NOT have been business cycles in the United States before 1854 because:

• A)the country was growing too rapidly to have a recession.
• B)the banking system established by Alexander Hamilton prevented business cycles.
• C)monetary policy conducted by the Fed was very successful.
• D)the economy was agricultural.

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Definitions:

Minor Premise

In a syllogism, the premise that provides a specific instance or example related to the major premise.

Categorical Syllogism

A form of deductive reasoning consisting of three statements: a major premise, a minor premise, and a conclusion, each sharing a common term.

Middle Term

In logic, the term that appears in both premises of a syllogism but not in the conclusion, used to link the major and minor terms.

Propositions

Statements or assertions expressing a judgement or an opinion that can be either true or false.