The Emergency Banking Act of 1933

question 73

Multiple Choice

The Emergency Banking Act of 1933

• A) created a national banking system of savings and loan associations.
• B) put U.S.banks under temporary federal control.
• C) permitted banks with sufficient cash reserves to reopen.
• D) forced all banks to join the Federal Reserve System.

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Definitions:

Oligopoly

A market structure characterized by a few companies dominating the market, often leading to limited competition and higher prices for consumers.

Monopoly

A monopoly exists when a single firm is the sole provider of a product or service in a particular market, giving it significant control over pricing and the market supply.

Prisoner's Dilemma

Prisoner's Dilemma is a concept in game theory where two individuals acting in their own self-interest pursue a course of action that does not result in the ideal outcome for either of them.

Cooperate

The act of working together towards a common goal or interest, often seen in contexts where individuals or entities join forces for mutual benefit.