A. MORAL B. UNETHICAL C. SOCIAL D. FAIRPART 2

A. moral

B. unethical

C. social

D. fair

Part 2: Read the following article and choose the best answer for each question (10 points, 2 for each correct answer)

A massive banking crisis occurred in the United States in 1933. In the two preceding years, a large number of

banks had failed, and fear of lost savings had prompted many depositors to remove their funds from banks. Problems

became so serious in the state of Michigan that Governor William A. Comstock was forced to declare a moratorium on all

banking activities in the state on February 14, 1933. The panic in Michigan quickly spread to other states, and on March 6,

President Franklin D. Roosevelt declared a banking moratorium throughout the United States that left the entire country

without banking services.

Congress immediately met in a special session to solve the banking crisis and on March 9 passed the Emergency

Banking Act of 1933 to assist financially healthy banks to reopen. By March 15, banks controlling 90 percent of the

country’s financial reserves were again open for business.