Answer:
Thomas Malthus Theory of Population Growth and David Richardo's views on wages both agreed that food production increases as population increases, however, that the increase in population will overwhelm the abundance of food, and thus lead to diminishing returns. Both men believed in the principle of political economy. Both argued that there was a need to control the population in a time of abundance. They believed that if the population is not well managed, the abundance may be misused, and thus, the increased population will bear the brunt of the mismanagement.
Samuel Morse invented the telegraph. The telegraph allowed for the United States to continue expansion westward but still be able to communicate with more areas of the country. This communication system typically followed along rail routes and if a rail line was close by this communication system could be used to issue alerts, news, and messages across the country. This technology allowed for a capital on one side of the country to keep tabs on the other coast.
<u>ANSWER:</u>
The main duties of the Federal Reserve are
- Conduct the nation's monetary policy,
- Look over and regulate the banking operations
- Provide and maintain an effective system for payments and transactions.
<u>Explanation:</u>
These functions are of utmost importance to maintain the growing economy of the nation. Firstly, they have to ensure maximum employment in the country and stable rates with moderate long term rates of interest.
By regulating the bank operations, they are protecting the consumers' credit rights and strengthening the US security. They provide services to foreign official institutions as well. They also supervise the other reserve banks and branches of the same.
