According to the Text,authorities Largely Ignored Marijuana Clubs in New

question 20

Multiple Choice

According to the text,authorities largely ignored marijuana clubs in New York City during the 1920s because __________.

• A)authorities were focused on looking for cocaine clubs
• B)marijuana was not viewed as a social threat
• C)the police did not know about their existence
• D)marijuana clubs were used mostly for religious ceremonies

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Definitions:

Excess Reserves

The capital reserves held by a bank or financial institution in excess of what is required by regulators, central bank, or other financial authority.

Actual Reserves

The total reserves held by a bank, consisting of both required reserves and any excess reserves not needed to meet central bank requirements.

Discount Rate

The Discount Rate is the interest rate set by central banks at which financial institutions can borrow reserves, influencing monetary policy and the money supply.

Federal Reserve

The central banking system of the United States, responsible for monetary policy, regulation of banks, and providing financial services to depository institutions.