The author included the information about 1920 and 1925 because that was the time the U.S economy expanded rapidly, The Roaring Twenties. Until 1925 there wasn’t legal requirement to separate the operations of commercial and investment banks, the investment banking was consisted of <em>JP Morgan & Co, Kuhn, Loeb & Co, Brown Brothers and Kindder, Peabody & Co</em>. Their funds could be used to fund the underwriting business of the investment baking side.
In 1929 everyone was putting their savings into stocks, not only the wealth part but the poor part too and because of that the stock market reached the peak in August 1929. But than the production declined causing unemployment and with that the stock prices were much higher than their actual value. The economy was struggling, the debt was rising and the banks had and excess of large loans that couldn’t be liquidated.
In the 1930s over 9,000 banks failed because people didn’t trusted them to put their saving. The Great Depression the official unemployment rate was 25% and the stock marked declined 75% since 1929. But in 1933 now with Rooselvet’s administration he took immediate action about the economic woes first announcing that all banks would close, Bank Holiday. The Congress would pass reform legislation and reopen the banks. In “<em>first 100 days</em>” Roosevelt’s administration stabilized the industrial and agricultural production and created jobs and also created the Federal Deposit Insurance Corporation (FDIC) to protect depositors’ accounts and the Securities and Exchange Commission (SEC) to regulate the stock market and prevent what happened in 1929.
The big change between the crises in the 20s and 30s were all about who was in charge, President Hebert Hoover didn’t take much lead about the crises but Roosevelt did.
Pretty sure there aren’t any
1. The correct answer here is the third option.
One way to fuel your economy is to have people buy domestic products. After the Great Depression the US economy was in shambles and in order to revitalize it even just a little, the government used protective tariffs. When you impose taxes, that is tariffs the price of the goods they are placed on will increase. Thus the domestic products would be cheaper and thus would be bought more than imported, more expensive goods.
2.The correct answer here is the first option.
A cartel is a group of firms, producers or individuals that, while on the surface independent, work together in order to increase their profits by manipulating the market by some restrictive practices like price fixing. On the other hand a monopoly is when a single company or an individual control the whole market and thus have complete freedom in setting the quality of products and their prices.
3. The correct answer here is the fourth option.
For a long time the work hours and the activities of the people have been dictated by the time of the day and the amount of available sunlight. That all changed with the arrival of electricity and the invention of electric light sources. These have tremendously increased the usable time of the day for people and created a revolution in the daily life of the people.
4.The correct answer here would be the third option.
The Sherman Antitrust Law is a landmark statute and a law that represented a great win for the United States and its people as it was a law that limited the power of the large companies and was a step in right direction when it came to fighting monopolies and trusts.
5.The correct answer here is the first option.
It was Samuel Gompers that was elected the first president of the American Federation of Labor. The American Federation of Labor was a labor organization that operated on the level of the whole state and which consisted mainly from the various craft unions. The group attracted many who were not satisfied with the Knights of Labor.
6.The correct answer here is the first option.
The Haymarket Affair refers to a bombing that occurred during what originally started as a peaceful rally in support of 8 hour work day and workers rights. But unfortunately, someone threw dynamite at the police which who then reacted to disperse the crowd. This event served as a catalyst for the workers and the people of US to turn away from radicalism.
7. The correct answer here is the third option.
It was during the 1880 and 1885 that a technological boom occurred. The more and more things were being rapidly invented and patented which resulted in the doubling of the number of patents granted during this period. This was a particularly eventful and fruitful period of the Second Industrial Revolution.
8.The correct answer here is the first option.
The ICC here refers to now defunct government regulatory agency whose primary purpose was to regulate the railroad operations. The ICC which stands for Interstate Commerce Commission was in 1887 by the Interstate Commerce Act of 1887 and it was functioning until 1995 when its duties have been transfered to Surface Transportation Board<span>.
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9.The correct answer here is again the first option.
It was not easy being a worker in 1800s. Firstly you had to work in unsanitary conditions and more importantly in unsafe condition as worker safety was not deemed to important. You had to work long hours usually from 10-16 hours a day and you did that for a small, pitiful wage.
10.The correct answer here is the last option.
Among the presented organizations it was the Knights of Labor that were founded first as they were founded in December 1869. The second organization founded was American Federation of Labor in 1886 mainly from the people who were not satisfied with the work of Knights of Labor.
Answer:
Kublai instituted a class system that placed Mongols on top, followed by Central Asians, Northern Chinese, and finally Southern Chinese. The latter two classes were more heavily taxed, especially to fund Kublai’s failed – and expensive – military campaigns.
These campaigns included attacks on Burma, Vietnam and Sakhalin, which successfully resulted in these regions becoming tributary states of the empire with tributes that were, unfortunately, dwarfed by the costs of the individual campaigns.
