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Universal banks were originally centered in Western Europe. T/F

User Morena
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Final answer:

Universal banks were indeed originally centered in Western Europe, and this is true. The Panic of 1819 decreased faith in the Second Bank of the United States, making the statement false. Finally, the present-day Southeastern United States was likely an independent center for plant domestication, making the statement true.

Step-by-step explanation:

The statement that universal banks were originally centered in Western Europe is true. During the period of industrialization in Europe, banks began forming extensive financial networks that facilitated the standardization of prices across various regions. This development contributed significantly to the growth of global trade networks and had a lasting impact on the world economy. These networks were prominent in locations such as Italy, the Low Countries, and along the Baltic coast.

Regarding the question of the Panic of 1819, the impact on the Second Bank of the United States was negative. Therefore, the statement 'The Panic of 1819 increased the American people's faith in the Second Bank of the United States' is false. The Panic of 1819 actually decreased the American public's trust in the institution due to the economic hardship it caused, including bank failures, foreclosures, and unemployment.

As for the question about plant domestication, recent findings suggest that the region of the present-day Southeastern United States was indeed one of the world's independent centers for plant domestication. Hence, the statement is considered to be true.

User Juicy
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