Asked by Chase Mason on Jun 18, 2024
Verified
Which government agencies designed a $700-billion bailout package and convinced Congress
That a rapid response was needed to avert a worldwide depression in 2008?
A) the Treasury Department and the Federal Reserve System
B) the Department of Commerce and the Office of Management and Budget
C) the Office of Management and Budget and the Council of Economic Advisers
D) the Department of Commerce and the Council of Economic Advisers
Bailout Package
Financial support provided, typically by a government, to prevent the bankruptcy of a failing business, industry, or financial system.
Treasury Department
A sector of government responsible for managing government revenue, producing currency, and implementing fiscal policy.
Federal Reserve System
The central banking system of the United States, responsible for nation's monetary policy by regulating the supply of money and interest rates.
- Outline the theory and ramifications of fiscal and monetary policies on the economic structure of a country.
- Identify the core objectives and roles of essential federal agencies, including the State Department, the Treasury, and the Federal Reserve System.
Verified Answer
LL
Lemperouge LelouchJun 19, 2024
Final Answer :
A
Explanation :
The $700-billion bailout package was designed by the Treasury Department and the Federal Reserve System. They also made the case to Congress that a quick response was necessary to avoid a worldwide depression.
Learning Objectives
- Outline the theory and ramifications of fiscal and monetary policies on the economic structure of a country.
- Identify the core objectives and roles of essential federal agencies, including the State Department, the Treasury, and the Federal Reserve System.