Which of the Following Is NOT True Regarding the Dodd-Frank

question 53

Multiple Choice

Which of the following is NOT true regarding the Dodd-Frank Wall Street Reform and Consumer Protection Act?

• A) Dodd-Frank brought about a multitier system of banks in which the larger banks are highly regulated but the smaller community banks are not.
• B) Dodd-Frank created the Financial Stability Oversight Council.
• C) Dodd-Frank significantly curtailed certain powers of the Federal Reserve Board.
• D) Dodd-Frank established the Consumer Financial Protection Bureau.

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Definitions:

Lowering Tax Rates

The act of reducing the percentage at which income or corporate profits are taxed, which can affect economic behaviors and government revenues.

Supply-siders

Economists who believe reducing barriers for people to produce (supply) goods and services, like lower taxes, will stimulate economic growth.

Curing Recessions

Efforts and policies aimed at stimulating economic recovery and ending periods of economic decline.

Keynesian Economics

As formulated by John Maynard Keynes, this school believed the private economy was inherently unstable and that government intervention was necessary to prevent recessions from becoming depressions.