Answer:
The Teapot Dome scandal was a bribery scandal involving the administration of United States President Warren G. Harding from 1921 to 1923.
Explanation:
Secretary of the Interior Albert Bacon Fall had leased Navy petroleum reserves at Teapot Dome in Wyoming, as well as two locations in California, to private oil companies at low rates without competitive bidding. The leases were the subject of a seminal investigation by Senator Thomas J. Walsh. Convicted of accepting bribes from the oil companies, Fall became the first presidential cabinet member to go to prison; no one was convicted of paying the bribes.
Before the Watergate scandal, Teapot Dome was regarded as the "greatest and most sensational scandal in the history of American politics". It damaged the reputation of the Harding administration, which was already severely diminished by its controversial handling of the Great Railroad Strike of 1922 and Harding's veto of the Bonus Bill in 1922. Congress subsequently passed legislation, enduring to this day, giving subpoena power to the House and Senate for review of tax records of any U.S. citizen regardless of elected or appointed position. These resulting laws are also considered to have empowered the role of Congress more generally.
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Answer:
A
Explanation:
The English colonies supplied lots of natural resources, such as tobacco, lumber, sugar, etc. They bought lots of slave labor.
Answer:
Article 232
Explanation:
The Allies acknowledged Germany's incapability to fulfill the reparations demanded of them. However, the Allies required that Germany nonetheless undertake the compensation for all civilian damages caused by German aggression by land, sea or air.
The correct answer is indeed A) kept interest rates low.
Ok, let me try to resume.
When the central bank injects reserves, it encourages banks to lend out money at lower interest, attracting borrowers for this money and leading entrepreneurs to invest, once the higher interest rates would not be profitable. Interest rates coordinate savers and investors action. Investment requires resources to be frozen rather than consumed, meaning that less spending by the population reflects more resources available to fund these investments, resulting in a lower rate of interest.
When interest rates are pushed down by creating new money, the lower interest rate is not a representation of genuine savings by the public, it is artificially low. Increased business activity consumes resources while the population also keeps consuming more, causing a "tug-of-war" for resources between longer and shorter processes. When prices and interest eventually starts to rise, entrepreneurs find out their investment aren't actually profitable with these rates and are unable to complete the projects they started. This is the economic bubble, when the real economy can't withstand the perceived economy.
Now, finally going back into the answer.
During the late 1920s rates were kept artificially low by the Federal Reserve, sparking a boom, specially in the stock market, with prices rising up to 50 percent quickly. In 1929, once the government started tightening credit to cool down the overheated stock market it produced, the burst happened, leading the country into the Great Depression.
Sorry for the long explanation, hope you understand the concept ;)
